Calamos Advisors LLC boosted its position in shares of L3Harris Technologies Inc (NYSE:LHX – Free Report) by 164.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 239,080 shares of the company’s stock after purchasing an additional 148,604 shares during the quarter. Calamos Advisors LLC owned about 0.13% of L3Harris Technologies worth $56,609,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. NBH Bank bought a new position in shares of L3Harris Technologies in the second quarter worth approximately $26,000. Cedar Mountain Advisors LLC raised its holdings in L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after acquiring an additional 74 shares during the last quarter. Elevation Wealth Partners LLC lifted its position in L3Harris Technologies by 80.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 99 shares of the company’s stock valued at $29,000 after acquiring an additional 44 shares in the last quarter. John Boyer Inc. purchased a new stake in L3Harris Technologies during the 3rd quarter valued at $31,000. Finally, Bell Investment Advisors Inc bought a new stake in shares of L3Harris Technologies in the 2nd quarter worth $33,000. 84.76% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
LHX has been the subject of several recent analyst reports. Royal Bank Of Canada boosted their price target on L3Harris Technologies from $265.00 to $295.00 and gave the stock a “sector perform” rating in a research note on Friday, October 30th. Susquehanna dropped their price objective on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Guggenheim assumed coverage on L3Harris Technologies in a research report on Monday, September 14th. They issued a “buy” rating and a $365.00 target price for the company. The Goldman Sachs Group decreased their price objective on shares of L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating for the company in a report on Monday, October 12th. Finally, BNP Paribas Exane lowered their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $345.60.
Get Our Latest Report on L3Harris Technologies
L3Harris Technologies Stock Performance
NYSE:LHX traded up $2.13 on Friday, hitting $260.24. The stock had a trading volume of 1,797,639 shares, compared to its average volume of 1,796,398. The stock has a market cap of $48.46 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.68 and a beta of 0.47. The company has a quick ratio of 1.05, a current ratio of 1.20 and a debt-to-equity ratio of 0.45. The business’s 50-day simple moving average is $250.16 and its two-hundred day simple moving average is $303.18. L3Harris Technologies Inc has a 52-week low of $232.34 and a 52-week high of $379.23.
L3Harris Technologies (NYSE:LHX – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.33. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.92 billion. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.70 EPS. As a group, research analysts predict that L3Harris Technologies Inc will post 12.04 earnings per share for the current year.
L3Harris Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, December 4th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 46.64%.
L3Harris Technologies Company Profile
L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies.
The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.
L3Harris was formed in 2019 through the merger of L3 Technologies and Harris Corporation.
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