Howland Capital Management LLC reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 17.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,850 shares of the company’s stock after selling 619 shares during the quarter. Howland Capital Management LLC’s holdings in L3Harris Technologies were worth $578,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. TD Ameritrade Investment Management LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth about $25,000. Exchange Traded Concepts LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth about $30,000. Piscataqua Savings Bank acquired a new position in shares of L3Harris Technologies in the first quarter worth about $30,000. DB Wealth Management Group LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $32,000. Finally, Sage Private Wealth Group LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.58% of the company’s stock.
L3Harris Technologies stock opened at $211.74 on Tuesday. The stock’s fifty day moving average price is $204.51 and its two-hundred day moving average price is $189.69. L3Harris Technologies, Inc. has a one year low of $158.09 and a one year high of $213.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.37 and a quick ratio of 1.18. The firm has a market cap of $43.53 billion, a PE ratio of 35.06, a price-to-earnings-growth ratio of 0.96 and a beta of 0.80.
L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Friday, April 30th. The company reported $3.18 EPS for the quarter, topping the Zacks’ consensus estimate of $2.92 by $0.26. L3Harris Technologies had a return on equity of 11.29% and a net margin of 7.18%. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.62 billion. During the same quarter last year, the company earned $2.80 EPS. The company’s revenue was down 1.3% on a year-over-year basis. Sell-side analysts expect that L3Harris Technologies, Inc. will post 11.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, May 28th. This represents a $4.08 dividend on an annualized basis and a yield of 1.93%. L3Harris Technologies’s dividend payout ratio is currently 40.48%.
LHX has been the topic of several recent research reports. Morgan Stanley raised their price objective on shares of L3Harris Technologies from $226.00 to $238.00 and gave the company an “overweight” rating in a research report on Monday. Credit Suisse Group raised their price objective on shares of L3Harris Technologies from $200.00 to $223.00 and gave the company an “outperform” rating in a research report on Monday, April 19th. Cowen reaffirmed a “buy” rating and set a $210.00 price objective on shares of L3Harris Technologies in a research report on Friday, February 5th. Citigroup cut their price objective on shares of L3Harris Technologies from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, February 1st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $208.00 price objective on shares of L3Harris Technologies in a research report on Wednesday, April 14th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $226.21.
L3Harris Technologies Company Profile
L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.
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