Prudential PLC decreased its holdings in L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,015 shares of the company’s stock after selling 660 shares during the quarter. Prudential PLC’s holdings in L3Harris Technologies were worth $1,965,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of LHX. First Hawaiian Bank raised its stake in shares of L3Harris Technologies by 14.0% during the first quarter. First Hawaiian Bank now owns 4,836 shares of the company’s stock worth $949,000 after buying an additional 593 shares during the last quarter. Wealthfront Advisers LLC boosted its position in shares of L3Harris Technologies by 10.9% in the 1st quarter. Wealthfront Advisers LLC now owns 15,050 shares of the company’s stock worth $2,953,000 after purchasing an additional 1,482 shares during the last quarter. Empirical Finance LLC grew its stake in shares of L3Harris Technologies by 4.8% during the first quarter. Empirical Finance LLC now owns 5,658 shares of the company’s stock worth $1,110,000 after purchasing an additional 258 shares during the period. Russell Investments Group Ltd. increased its holdings in L3Harris Technologies by 24.8% in the first quarter. Russell Investments Group Ltd. now owns 180,968 shares of the company’s stock valued at $35,511,000 after purchasing an additional 35,978 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its stake in L3Harris Technologies by 6.1% in the first quarter. Kornitzer Capital Management Inc. KS now owns 6,600 shares of the company’s stock valued at $1,295,000 after buying an additional 377 shares during the period. Institutional investors and hedge funds own 81.33% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. The Goldman Sachs Group upped their price target on L3Harris Technologies from $162.00 to $164.00 in a research note on Friday, August 11th. Bank of America lowered their target price on shares of L3Harris Technologies from $230.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, August 2nd. Wells Fargo & Company increased their target price on shares of L3Harris Technologies from $202.00 to $204.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Jefferies Financial Group decreased their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, July 31st. Finally, Sanford C. Bernstein downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $239.00 to $210.00 in a research note on Monday, August 28th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $233.07.
L3Harris Technologies Stock Down 0.5 %
Shares of L3Harris Technologies stock opened at $177.26 on Monday. L3Harris Technologies, Inc. has a 52-week low of $174.55 and a 52-week high of $255.10. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.09. The business’s 50 day simple moving average is $189.62 and its 200 day simple moving average is $193.48. The firm has a market cap of $33.53 billion, a PE ratio of 42.20, a P/E/G ratio of 4.81 and a beta of 0.72.
L3Harris Technologies (NYSE:LHX – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.03. L3Harris Technologies had a net margin of 4.46% and a return on equity of 12.82%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period last year, the company earned $3.23 earnings per share. The firm’s revenue was up 13.5% compared to the same quarter last year. On average, analysts predict that L3Harris Technologies, Inc. will post 12.33 earnings per share for the current fiscal year.
L3Harris Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, September 5th will be paid a dividend of $1.14 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.57%. L3Harris Technologies’s dividend payout ratio is 108.57%.
L3Harris Technologies 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, modification, and periodic depot maintenance services for ISR and airborne missions.
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