Keybank National Association OH purchased a new position in shares of L3Harris (NYSE:LHX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 19,123 shares of the company’s stock, valued at approximately $3,990,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of LHX. Lindbrook Capital LLC bought a new position in L3Harris during the 2nd quarter worth approximately $25,000. Squar Milner Financial Services LLC grew its position in L3Harris by 500.0% during the 3rd quarter. Squar Milner Financial Services LLC now owns 120 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Sonora Investment Management LLC bought a new stake in shares of L3Harris in the 3rd quarter worth approximately $26,000. Wealthcare Capital Management LLC bought a new stake in shares of L3Harris in the 3rd quarter worth approximately $26,000. Finally, D Orazio & Associates Inc. bought a new stake in shares of L3Harris in the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 97.80% of the company’s stock.
LHX has been the topic of a number of recent analyst reports. Credit Suisse Group lifted their price objective on L3Harris from $220.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Cowen reiterated a “buy” rating and issued a $210.00 price objective on shares of L3Harris in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on L3Harris from $210.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Buckingham Research lifted their price objective on L3Harris from $197.00 to $237.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group lifted their price objective on L3Harris from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $235.89.
L3Harris (NYSE:LHX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $2.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.39 by $0.19. The firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.43 billion. L3Harris had a return on equity of 16.42% and a net margin of 12.02%. L3Harris’s quarterly revenue was up 187.4% on a year-over-year basis. Analysts expect that L3Harris will post 9.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, November 21st. L3Harris’s payout ratio is presently 36.19%.
In other news, CEO William M. Brown sold 106,552 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $207.82, for a total value of $22,143,636.64. Also, CEO William M. Brown sold 130,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $214.52, for a total value of $27,887,600.00. In the last 90 days, insiders sold 511,068 shares of company stock valued at $108,033,097. 1.70% of the stock is currently owned by company insiders.
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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