Gemmer Asset Management LLC acquired a new position in shares of L3Harris (NYSE:LHX) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,010 shares of the company’s stock, valued at approximately $1,671,000.
Other large investors also recently modified their holdings of the company. Lindbrook Capital LLC acquired a new stake in shares of L3Harris during the second quarter worth $25,000. Dougherty Wealth Advisers LLC acquired a new stake in shares of L3Harris during the second quarter worth $31,000. Allworth Financial LP acquired a new stake in shares of L3Harris during the third quarter worth $36,000. West Oak Capital LLC acquired a new stake in shares of L3Harris during the third quarter worth $40,000. Finally, Larson Financial Group LLC bought a new position in L3Harris in the third quarter valued at $47,000. Institutional investors and hedge funds own 97.80% of the company’s stock.
In other news, CEO William M. Brown sold 130,000 shares of L3Harris stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $211.07, for a total value of $27,439,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William M. Brown sold 106,552 shares of L3Harris stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $207.82, for a total transaction of $22,143,636.64. In the last three months, insiders bought 11,800 shares of company stock valued at $2,402,722 and sold 511,068 shares valued at $108,033,097. Company insiders own 1.70% of the company’s stock.
L3Harris stock opened at $208.94 on Friday. The company has a market capitalization of $46.50 billion, a P/E ratio of 25.20, a P/E/G ratio of 2.70 and a beta of 0.92. L3Harris has a 1-year low of $123.24 and a 1-year high of $217.31. The company has a fifty day simple moving average of $210.45. The company has a current ratio of 1.14, a quick ratio of 0.98 and a debt-to-equity ratio of 0.82.
L3Harris (NYSE:LHX) last released its earnings results on Wednesday, July 31st. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.14. L3Harris had a net margin of 13.95% and a return on equity of 29.39%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter last year, the firm earned $1.78 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts predict that L3Harris will post 9.68 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Tuesday, September 3rd. L3Harris’s dividend payout ratio (DPR) is presently 36.19%.
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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