Orser Capital Management LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 47.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,070 shares of the company’s stock after buying an additional 1,940 shares during the quarter. Orser Capital Management LLC’s holdings in L3Harris Technologies were worth $1,188,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Hanson & Doremus Investment Management acquired a new position in shares of L3Harris Technologies during the first quarter worth approximately $25,000. Cowa LLC acquired a new position in shares of L3Harris Technologies during the first quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of L3Harris Technologies during the first quarter worth approximately $27,000. Eagle Bay Advisors LLC acquired a new position in shares of L3Harris Technologies during the second quarter worth approximately $30,000. Finally, CVA Family Office LLC lifted its holdings in shares of L3Harris Technologies by 58.0% during the second quarter. CVA Family Office LLC now owns 158 shares of the company’s stock worth $31,000 after buying an additional 58 shares during the last quarter. 81.33% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
LHX has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $240.00 price target on shares of L3Harris Technologies in a report on Friday, August 18th. The Goldman Sachs Group upped their target price on L3Harris Technologies from $162.00 to $164.00 in a research note on Friday, August 11th. Citigroup began coverage on L3Harris Technologies in a research note on Monday, September 11th. They issued a “buy” rating and a $193.00 target price for the company. StockNews.com began coverage on L3Harris Technologies in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group cut their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, July 31st. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $229.00.
Insider Transactions at L3Harris Technologies
In other news, President Edward J. Zoiss sold 30,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $90.84, for a total transaction of $2,725,200.00. Following the sale, the president now owns 31,923 shares in the company, valued at $2,899,885.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.82% of the company’s stock.
L3Harris Technologies Stock Performance
Shares of NYSE:LHX opened at $172.72 on Friday. The business’s fifty day moving average price is $184.77 and its two-hundred day moving average price is $190.74. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market capitalization of $32.67 billion, a price-to-earnings ratio of 41.12, a price-to-earnings-growth ratio of 4.59 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $167.14 and a fifty-two week high of $255.10.
L3Harris Technologies (NYSE:LHX – Get Free Report) last announced its earnings results on Wednesday, July 26th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.94 by $0.03. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.37 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 4.46%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.23 earnings per share. As a group, analysts predict that L3Harris Technologies, Inc. will post 12.33 EPS for the current fiscal year.
L3Harris Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, September 5th will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, September 1st. L3Harris Technologies’s payout ratio is presently 108.57%.
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.
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