Gateway Investment Advisers LLC Has $24.26 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Gateway Investment Advisers LLC grew its stake in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 6,528.6% during the first quarter, HoldingsChannel reports. The firm owned 97,639 shares of the company’s stock after buying an additional 96,166 shares during the quarter. Gateway Investment Advisers LLC’s holdings in L3Harris Technologies were worth $24,260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Equitec Proprietary Markets LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $25,000. Concord Wealth Partners boosted its position in L3Harris Technologies by 69.4% during the 4th quarter. Concord Wealth Partners now owns 122 shares of the company’s stock worth $26,000 after buying an additional 50 shares during the period. Wagner Wealth Management LLC boosted its position in L3Harris Technologies by 296.9% during the 4th quarter. Wagner Wealth Management LLC now owns 127 shares of the company’s stock worth $27,000 after buying an additional 95 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth approximately $32,000. Finally, Bogart Wealth LLC boosted its position in L3Harris Technologies by 59.1% during the 4th quarter. Bogart Wealth LLC now owns 183 shares of the company’s stock worth $39,000 after buying an additional 68 shares during the period. Institutional investors own 80.15% of the company’s stock.

Several equities research analysts recently commented on LHX shares. Susquehanna Bancshares cut their target price on shares of L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Jefferies Financial Group dropped their price target on shares of L3Harris Technologies from $320.00 to $300.00 in a research report on Monday, May 2nd. Morgan Stanley boosted their price target on shares of L3Harris Technologies from $230.00 to $276.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 2nd. Finally, Wells Fargo & Company boosted their price target on shares of L3Harris Technologies from $240.00 to $291.00 and gave the stock an “overweight” rating in a research report on Monday, March 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $265.09.

Shares of NYSE:LHX traded down $0.54 during mid-day trading on Thursday, hitting $229.10. The company had a trading volume of 2,968 shares, compared to its average volume of 803,301. The firm has a fifty day moving average price of $239.29 and a 200 day moving average price of $233.60. The company has a market capitalization of $44.19 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 3.85 and a beta of 0.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.09. L3Harris Technologies, Inc. has a one year low of $200.71 and a one year high of $279.71.

L3Harris Technologies (NYSE:LHXGet Rating) last released its quarterly earnings data on Thursday, April 28th. The company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.10. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.13 billion. L3Harris Technologies had a net margin of 10.68% and a return on equity of 13.18%. L3Harris Technologies’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.18 EPS. Research analysts expect that L3Harris Technologies, Inc. will post 13.6 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were paid a dividend of $1.12 per share. The ex-dividend date was Thursday, June 2nd. This represents a $4.48 dividend on an annualized basis and a yield of 1.96%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 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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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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