Tredje AP fonden grew its stake in L3Harris (NYSE:LHX) by 19.7% in the first quarter, Holdings Channel reports. The fund owned 16,284 shares of the company’s stock after purchasing an additional 2,682 shares during the period. Tredje AP fonden’s holdings in L3Harris were worth $3,846,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Aigen Investment Management LP acquired a new stake in shares of L3Harris during the 4th quarter worth about $25,000. Virtus ETF Advisers LLC acquired a new stake in shares of L3Harris during the 4th quarter worth about $25,000. Filbrandt Wealth Management LLC acquired a new stake in shares of L3Harris during the 4th quarter worth about $25,000. NuWave Investment Management LLC acquired a new stake in shares of L3Harris during the 1st quarter worth about $30,000. Finally, Prime Capital Investment Advisors LLC increased its position in shares of L3Harris by 40.0% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 161 shares of the company’s stock worth $32,000 after purchasing an additional 46 shares during the last quarter. 84.80% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. Royal Bank of Canada assumed coverage on L3Harris in a research report on Wednesday. They set an “outperform” rating and a $219.00 price objective for the company. Sanford C. Bernstein raised their target price on L3Harris from $217.00 to $236.00 and gave the company an “outperform” rating in a report on Monday, April 20th. SunTrust Banks lowered their target price on L3Harris from $265.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Seaport Global Securities started coverage on L3Harris in a report on Tuesday. They set a “buy” rating and a $225.00 target price for the company. Finally, Zacks Investment Research cut L3Harris from a “buy” rating to a “hold” rating and set a $184.00 target price for the company. in a report on Thursday, March 26th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $239.80.
Shares of LHX traded down $3.67 during midday trading on Friday, hitting $180.45. The company had a trading volume of 1,084,672 shares, compared to its average volume of 1,330,704. The company’s 50-day simple moving average is $186.73 and its 200-day simple moving average is $198.97. The firm has a market capitalization of $39.75 billion, a P/E ratio of 26.30 and a beta of 0.77. L3Harris has a 1 year low of $142.01 and a 1 year high of $230.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.21 and a current ratio of 1.41.
L3Harris (NYSE:LHX) last posted its earnings results on Tuesday, May 5th. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.19. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.60 billion. L3Harris had a return on equity of 13.20% and a net margin of 8.30%. The firm’s revenue was up 167.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.32 earnings per share. Equities analysts predict that L3Harris will post 11.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, June 1st. L3Harris’s payout ratio is 33.73%.
L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.
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