Cerity Partners LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 57.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,247 shares of the company’s stock after buying an additional 1,188 shares during the quarter. Cerity Partners LLC’s holdings in L3Harris Technologies were worth $551,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in LHX. Morgan Stanley boosted its stake in L3Harris Technologies by 6.5% during the first quarter. Morgan Stanley now owns 912,095 shares of the company’s stock worth $164,286,000 after buying an additional 55,952 shares during the period. SeaCrest Wealth Management LLC boosted its stake in L3Harris Technologies by 13.3% during the second quarter. SeaCrest Wealth Management LLC now owns 1,622 shares of the company’s stock worth $275,000 after buying an additional 191 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in L3Harris Technologies by 5.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 40,356 shares of the company’s stock worth $6,847,000 after buying an additional 1,911 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new position in L3Harris Technologies during the second quarter worth about $201,000. Finally, CIBC Asset Management Inc boosted its stake in L3Harris Technologies by 1.7% during the second quarter. CIBC Asset Management Inc now owns 24,526 shares of the company’s stock worth $4,161,000 after buying an additional 408 shares during the period. 82.28% of the stock is owned by institutional investors.
Shares of NYSE:LHX opened at $194.98 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.37 and a debt-to-equity ratio of 0.29. L3Harris Technologies, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $230.99. The firm’s 50 day moving average price is $179.58 and its 200 day moving average price is $179.33. The stock has a market cap of $40.97 billion, a price-to-earnings ratio of 32.28, a price-to-earnings-growth ratio of 1.05 and a beta of 0.70.
L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Friday, October 30th. The company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.10. L3Harris Technologies had a net margin of 7.18% and a return on equity of 11.29%. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter last year, the company earned $2.58 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 1.74%. L3Harris Technologies’s payout ratio is currently 33.73%.
LHX has been the topic of several research reports. Citigroup reduced their price target on shares of L3Harris Technologies from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Benchmark reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. The Goldman Sachs Group cut shares of L3Harris Technologies from a “conviction-buy” rating to a “buy” rating in a research report on Sunday, September 20th. Sanford C. Bernstein increased their price target on shares of L3Harris Technologies from $243.00 to $258.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. They noted that the move was a valuation call. Finally, ValuEngine cut shares of L3Harris Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, October 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $239.24.
L3Harris Technologies Company 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, modifications, and periodic depot maintenance services for ISR and airborne missions.
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