Tredje AP fonden grew its stake in shares of L3Harris (NYSE:LHX) by 19.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,284 shares of the company’s stock after purchasing an additional 2,682 shares during the quarter. Tredje AP fonden’s holdings in L3Harris were worth $3,846,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Capital Research Global Investors boosted its stake in shares of L3Harris by 3.9% during the fourth quarter. Capital Research Global Investors now owns 6,974,459 shares of the company’s stock valued at $1,380,036,000 after purchasing an additional 262,567 shares during the period. Janus Henderson Group PLC boosted its stake in shares of L3Harris by 0.4% during the fourth quarter. Janus Henderson Group PLC now owns 6,874,115 shares of the company’s stock valued at $1,357,751,000 after purchasing an additional 29,240 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of L3Harris by 4.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,805,206 shares of the company’s stock valued at $950,806,000 after purchasing an additional 210,965 shares during the period. Geode Capital Management LLC boosted its stake in shares of L3Harris by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 3,728,981 shares of the company’s stock valued at $736,455,000 after purchasing an additional 168,152 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of L3Harris by 0.6% during the fourth quarter. Nuveen Asset Management LLC now owns 3,040,373 shares of the company’s stock valued at $601,599,000 after purchasing an additional 17,260 shares during the period. 84.80% of the stock is owned by hedge funds and other institutional investors.
L3Harris stock traded down $3.67 during trading hours on Friday, reaching $180.45. The stock had a trading volume of 1,084,672 shares, compared to its average volume of 1,330,704. The company has a market cap of $39.75 billion, a price-to-earnings ratio of 26.30 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.21. The business’s 50 day moving average price is $186.73 and its 200-day moving average price is $198.97. L3Harris has a 52 week low of $142.01 and a 52 week high of $230.99.
L3Harris (NYSE:LHX) last announced its earnings results on Tuesday, May 5th. The company reported $2.80 EPS for the quarter, topping the Zacks’ consensus estimate of $2.61 by $0.19. L3Harris had a net margin of 8.30% and a return on equity of 13.20%. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the previous year, the company posted $2.32 earnings per share. The firm’s revenue was up 167.7% on a year-over-year basis. On average, sell-side analysts forecast that L3Harris will post 11.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.40 annualized dividend and a dividend yield of 1.88%. L3Harris’s dividend payout ratio (DPR) is currently 33.73%.
A number of brokerages have recently issued reports on LHX. Morgan Stanley boosted their target price on shares of L3Harris from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. Robert W. Baird upped their price objective on shares of L3Harris from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. ValuEngine raised shares of L3Harris from a “sell” rating to a “hold” rating in a research note on Monday, March 9th. Benchmark reaffirmed a “buy” rating and issued a $260.00 price objective (down from $280.00) on shares of L3Harris in a research note on Wednesday, May 13th. They noted that the move was a valuation call. Finally, Argus upped their price objective on shares of L3Harris from $230.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $239.80.
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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