Sheaff Brock Investment Advisors LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 917 shares of the company’s stock, valued at approximately $228,000.
A number of other institutional investors also recently modified their holdings of LHX. CWM LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth $799,000. Robeco Institutional Asset Management B.V. increased its holdings in L3Harris Technologies by 4.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 52,332 shares of the company’s stock worth $11,160,000 after purchasing an additional 2,450 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in L3Harris Technologies by 422.3% in the 4th quarter. Qube Research & Technologies Ltd now owns 307,639 shares of the company’s stock worth $65,601,000 after purchasing an additional 248,743 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in L3Harris Technologies by 2.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 42,455 shares of the company’s stock worth $9,053,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Valmark Advisers Inc. increased its holdings in L3Harris Technologies by 1.3% in the 4th quarter. Valmark Advisers Inc. now owns 4,324 shares of the company’s stock worth $922,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 80.15% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on LHX. Jefferies Financial Group lowered their target price on L3Harris Technologies from $320.00 to $300.00 in a report on Monday, May 2nd. Susquehanna Bancshares lowered their target price on L3Harris Technologies from $302.00 to $298.00 in a report on Monday, May 2nd. Susquehanna lowered their target price on L3Harris Technologies from $302.00 to $298.00 in a report on Monday, May 2nd. Finally, StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday, April 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $266.20.
L3Harris Technologies Trading Down 1.4 %
L3Harris Technologies (NYSE:LHX – Get Rating) last announced its earnings results on Thursday, July 28th. The company reported $3.23 EPS for the quarter, beating the consensus estimate of $3.16 by $0.07. L3Harris Technologies had a return on equity of 13.09% and a net margin of 11.36%. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same quarter in the prior year, the company earned $3.26 EPS. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.42 earnings per share for the current year.
L3Harris Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be given a dividend of $1.12 per share. The ex-dividend date is Thursday, September 1st. This represents a $4.48 annualized dividend and a dividend yield of 1.91%. L3Harris Technologies’s payout ratio is 46.14%.
Insider Activity at L3Harris Technologies
In related news, VP James P. Girard sold 7,500 shares of the company’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the sale, the vice president now owns 10,811 shares in the company, valued at approximately $2,594,640. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.
L3Harris Technologies Profile
L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.
- Get a free copy of the StockNews.com research report on L3Harris Technologies (LHX)
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