Pacer Advisors Inc. decreased its stake in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,259 shares of the company’s stock after selling 394 shares during the quarter. Pacer Advisors Inc.’s holdings in L3Harris Technologies were worth $2,798,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in LHX. Atria Investments LLC boosted its position in L3Harris Technologies by 2.4% during the third quarter. Atria Investments LLC now owns 17,191 shares of the company’s stock worth $3,786,000 after acquiring an additional 404 shares during the last quarter. EP Wealth Advisors LLC boosted its position in L3Harris Technologies by 260.1% during the third quarter. EP Wealth Advisors LLC now owns 12,127 shares of the company’s stock worth $708,000 after acquiring an additional 8,759 shares during the last quarter. Cetera Advisors LLC boosted its position in L3Harris Technologies by 15.1% during the third quarter. Cetera Advisors LLC now owns 11,903 shares of the company’s stock worth $2,622,000 after acquiring an additional 1,562 shares during the last quarter. Capstone Triton Financial Group LLC boosted its position in L3Harris Technologies by 14.4% during the third quarter. Capstone Triton Financial Group LLC now owns 3,041 shares of the company’s stock worth $743,000 after acquiring an additional 382 shares during the last quarter. Finally, Wealthsource Partners LLC boosted its holdings in L3Harris Technologies by 210.6% in the 3rd quarter. Wealthsource Partners LLC now owns 2,923 shares of the company’s stock valued at $644,000 after purchasing an additional 1,982 shares during the last quarter. Institutional investors and hedge funds own 80.15% of the company’s stock.
Several equities analysts have weighed in on LHX shares. Morgan Stanley boosted their target price on shares of L3Harris Technologies from $230.00 to $276.00 and gave the company an “equal weight” rating in a report on Wednesday, March 2nd. Wells Fargo & Company boosted their target price on shares of L3Harris Technologies from $240.00 to $291.00 and gave the company an “overweight” rating in a report on Monday, March 7th. Susquehanna reduced their price target on shares of L3Harris Technologies from $302.00 to $298.00 in a research note on Monday, May 2nd. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Finally, Susquehanna Bancshares reduced their price target on shares of L3Harris Technologies from $302.00 to $298.00 in a research note on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $265.09.
L3Harris Technologies (NYSE:LHX – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $3.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.10. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.13 billion. L3Harris Technologies had a net margin of 10.68% and a return on equity of 13.18%. L3Harris Technologies’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.18 EPS. On average, analysts forecast that L3Harris Technologies, Inc. will post 13.6 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were issued a dividend of $1.12 per share. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $4.48 annualized dividend and a yield of 1.96%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 48.17%.
L3Harris Technologies Company Profile (Get Rating)
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.
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