Veriti Management LLC Acquires 669 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Veriti Management LLC lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 19.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,074 shares of the company’s stock after acquiring an additional 669 shares during the period. Veriti Management LLC’s holdings in L3Harris Technologies were worth $1,012,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of L3Harris Technologies by 24.3% in the 4th quarter. Capital World Investors now owns 14,871,240 shares of the company’s stock valued at $3,171,143,000 after acquiring an additional 2,906,014 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of L3Harris Technologies by 3.3% in the 4th quarter. Brown Advisory Inc. now owns 2,369,023 shares of the company’s stock valued at $505,170,000 after acquiring an additional 76,789 shares during the last quarter. Norges Bank bought a new position in shares of L3Harris Technologies in the 4th quarter valued at about $324,398,000. Millennium Management LLC raised its position in L3Harris Technologies by 1,598.2% in the 4th quarter. Millennium Management LLC now owns 1,228,124 shares of the company’s stock worth $261,885,000 after purchasing an additional 1,155,803 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in L3Harris Technologies by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 989,839 shares of the company’s stock worth $211,074,000 after purchasing an additional 9,750 shares during the period. 80.15% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price objective 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. Susquehanna reduced their price objective on shares of L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Jefferies Financial Group reduced their price objective on shares of L3Harris Technologies from $320.00 to $300.00 in a research report on Monday, May 2nd. Finally, Wells Fargo & Company increased their price objective 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $265.09.

Shares of NYSE:LHX opened at $229.64 on Thursday. The firm has a market cap of $44.29 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 3.71 and a beta of 0.76. The firm’s 50 day simple moving average is $239.29 and its 200-day simple moving average is $233.60. L3Harris Technologies, Inc. has a one year low of $200.71 and a one year high of $279.71. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.09 and a current ratio of 1.32.

L3Harris Technologies (NYSE:LHXGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.10. The company had revenue of $4.10 billion for 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 was down 10.2% compared to the same quarter last year. During the same period last year, the company posted $3.18 earnings per share. Equities research analysts predict that L3Harris Technologies, Inc. will post 13.6 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, June 2nd. L3Harris Technologies’s payout ratio is 48.17%.

About L3Harris Technologies (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.

Further Reading

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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