Arden Trust Co boosted its position in L3Harris (NYSE:LHX) by 10.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 11,323 shares of the company’s stock after acquiring an additional 1,087 shares during the period. Arden Trust Co’s holdings in L3Harris were worth $1,921,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Virtus ETF Advisers LLC bought a new stake in L3Harris in the fourth quarter valued at approximately $25,000. Filbrandt Wealth Management LLC acquired a new position in shares of L3Harris during the 4th quarter worth approximately $25,000. NuWave Investment Management LLC bought a new stake in L3Harris in the 1st quarter valued at $30,000. Sowell Financial Services LLC lifted its holdings in L3Harris by 161.2% during the 1st quarter. Sowell Financial Services LLC now owns 175 shares of the company’s stock valued at $32,000 after purchasing an additional 108 shares during the last quarter. Finally, Americana Partners LLC bought a new position in L3Harris during the fourth quarter worth $37,000. Institutional investors and hedge funds own 84.85% of the company’s stock.
A number of research firms have recently issued reports on LHX. Zacks Investment Research cut shares of L3Harris from a “buy” rating to a “hold” rating and set a $184.00 target price for the company. in a research note on Thursday, March 26th. Credit Suisse Group reduced their price objective on L3Harris from $252.00 to $226.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Sanford C. Bernstein upped their target price on L3Harris from $217.00 to $236.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. SunTrust Banks dropped their price target on L3Harris from $265.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Finally, UBS Group reduced their price target on L3Harris from $235.00 to $226.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company. L3Harris currently has a consensus rating of “Buy” and an average target price of $241.05.
Shares of L3Harris stock traded down $3.86 on Thursday, reaching $160.79. 28,012 shares of the stock were exchanged, compared to its average volume of 2,012,997. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.21 and a current ratio of 1.41. The firm has a market cap of $35.54 billion, a PE ratio of 23.76 and a beta of 0.74. The firm’s 50 day moving average is $185.93 and its 200-day moving average is $196.17. L3Harris has a one year low of $142.01 and a one year high of $230.99.
L3Harris (NYSE:LHX) last released 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 company’s quarterly revenue was up 167.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.32 earnings per share. On average, equities research analysts expect that L3Harris will post 11.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were given a dividend of $0.85 per share. The ex-dividend date was Monday, June 1st. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. L3Harris’s dividend payout ratio is currently 33.73%.
L3Harris Company Profile
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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