Cerebellum GP LLC bought a new position in shares of L3Harris (NYSE:LHX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,074 shares of the company’s stock, valued at approximately $433,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC acquired a new stake in shares of L3Harris during the 2nd quarter worth about $25,000. Dougherty Wealth Advisers LLC acquired a new stake in shares of L3Harris during the 2nd quarter worth about $31,000. West Oak Capital LLC acquired a new stake in shares of L3Harris during the 3rd quarter worth about $40,000. Advantage Investment Management LLC acquired a new stake in shares of L3Harris during the 3rd quarter worth about $48,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in shares of L3Harris during the 2nd quarter worth about $74,000. Institutional investors own 97.80% of the company’s stock.
In other L3Harris news, Director Thomas A. Dattilo acquired 1,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $209.19 per share, for a total transaction of $209,190.00. Following the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at $418,380. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William M. Brown sold 130,000 shares of L3Harris stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $211.07, for a total transaction of $27,439,100.00. The disclosure for this sale can be found here. In the last quarter, insiders acquired 11,800 shares of company stock valued at $2,402,722 and sold 511,068 shares valued at $108,033,097. 1.70% of the stock is owned by insiders.
Shares of L3Harris stock opened at $206.64 on Tuesday. L3Harris has a twelve month low of $123.24 and a twelve month high of $217.31. The company has a quick ratio of 0.98, a current ratio of 1.14 and a debt-to-equity ratio of 0.82. The business has a 50-day simple moving average of $210.28. The firm has a market cap of $46.50 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.70 and a beta of 0.92.
L3Harris (NYSE:LHX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.14. L3Harris had a net margin of 13.95% and a return on equity of 29.39%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the previous year, the company earned $1.78 EPS. The business’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts forecast that L3Harris will post 9.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date was Tuesday, September 3rd. L3Harris’s dividend payout ratio (DPR) is 36.19%.
LHX has been the subject of a number of research reports. Goldman Sachs Group initiated coverage on shares of L3Harris in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of L3Harris from $210.00 to $235.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Vertical Research initiated coverage on shares of L3Harris in a research note on Wednesday, July 3rd. They set a “buy” rating and a $204.70 target price for the company. UBS Group raised their target price on shares of L3Harris from $200.00 to $210.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, ValuEngine cut shares of L3Harris from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. L3Harris presently has an average rating of “Buy” and an average target price of $237.25.
L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.
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