L3Harris Technologies, Inc. (NYSE:LHX) Holdings Raised by Korea Investment CORP

Korea Investment CORP boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 126.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 198,057 shares of the company’s stock after purchasing an additional 110,671 shares during the period. Korea Investment CORP’s holdings in L3Harris Technologies were worth $38,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in LHX. State of Wyoming raised its stake in shares of L3Harris Technologies by 27.1% in the 4th quarter. State of Wyoming now owns 230 shares of the company’s stock valued at $48,000 after acquiring an additional 49 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of L3Harris Technologies by 0.9% in the 4th quarter. Apollon Wealth Management LLC now owns 5,925 shares of the company’s stock valued at $1,234,000 after acquiring an additional 52 shares in the last quarter. Baystate Wealth Management LLC raised its stake in shares of L3Harris Technologies by 12.4% in the 1st quarter. Baystate Wealth Management LLC now owns 471 shares of the company’s stock valued at $92,000 after acquiring an additional 52 shares in the last quarter. Global Retirement Partners LLC grew its holdings in L3Harris Technologies by 14.6% in the 1st quarter. Global Retirement Partners LLC now owns 431 shares of the company’s stock valued at $80,000 after buying an additional 55 shares during the last quarter. Finally, Twin Lakes Capital Management LLC grew its holdings in L3Harris Technologies by 0.4% in the 1st quarter. Twin Lakes Capital Management LLC now owns 14,581 shares of the company’s stock valued at $2,861,000 after buying an additional 56 shares during the last quarter. 81.33% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $177.83 on Thursday. The stock’s fifty day simple moving average is $190.23 and its 200 day simple moving average is $194.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.09 and a quick ratio of 0.84. L3Harris Technologies, Inc. has a one year low of $174.55 and a one year high of $255.10. The firm has a market cap of $33.63 billion, a price-to-earnings ratio of 42.34, a P/E/G ratio of 4.82 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.03. L3Harris Technologies had a return on equity of 12.82% and a net margin of 4.46%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the company posted $3.23 EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, analysts expect that L3Harris Technologies, Inc. will post 12.36 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, September 5th will be given a $1.14 dividend. The ex-dividend date is Friday, September 1st. This represents a $4.56 annualized dividend and a yield of 2.56%. L3Harris Technologies’s payout ratio is 108.57%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on L3Harris Technologies from $202.00 to $204.00 and gave the company an “equal weight” rating in a report on Friday, July 28th. StockNews.com assumed coverage on L3Harris Technologies in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Jefferies Financial Group lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, July 31st. Royal Bank of Canada reissued an “outperform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, August 18th. Finally, The Goldman Sachs Group lifted their price objective on L3Harris Technologies from $162.00 to $164.00 in a report on Friday, August 11th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $233.07.

About L3Harris Technologies

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.