Haverford Trust Co. bought a new stake in L3Harris (NYSE:LHX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,340 shares of the company’s stock, valued at approximately $280,000.
A number of other large investors also recently modified their holdings of LHX. California Public Employees Retirement System purchased a new stake in L3Harris in the 3rd quarter valued at $371,059,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of L3Harris during the 3rd quarter worth $192,838,000. State of Tennessee Treasury Department purchased a new position in shares of L3Harris during the 3rd quarter worth $85,177,000. Marshall Wace North America L.P. purchased a new position in shares of L3Harris during the 2nd quarter worth $70,474,000. Finally, Rhumbline Advisers purchased a new position in shares of L3Harris during the 3rd quarter worth $76,600,000. Institutional investors own 97.80% of the company’s stock.
LHX traded up $1.14 during mid-day trading on Friday, hitting $196.02. 1,354,835 shares of the stock were exchanged, compared to its average volume of 1,239,028. The firm’s fifty day moving average price is $204.91. L3Harris has a 1-year low of $123.24 and a 1-year high of $217.31. The company has a current ratio of 1.49, a quick ratio of 1.21 and a debt-to-equity ratio of 0.31. The company has a market cap of $42.67 billion, a P/E ratio of 23.65, a PEG ratio of 2.42 and a beta of 0.91.
L3Harris (NYSE:LHX) last posted its earnings results on Wednesday, October 30th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.39 by $0.19. L3Harris had a return on equity of 16.42% and a net margin of 12.02%. The firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.43 billion. The business’s revenue was up 187.4% on a year-over-year basis. Sell-side analysts anticipate that L3Harris will post 9.97 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.53%. The ex-dividend date is Thursday, November 21st. L3Harris’s payout ratio is 36.19%.
A number of equities analysts have recently weighed in on the company. Barclays reiterated a “buy” rating and set a $270.00 price target on shares of L3Harris in a report on Wednesday, October 9th. Credit Suisse Group increased their price target on L3Harris from $220.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. UBS Group set a $225.00 price target on L3Harris and gave the stock a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group increased their price target on L3Harris from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, Cowen reiterated a “buy” rating and set a $210.00 price target on shares of L3Harris in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $235.89.
In related news, CEO William M. Brown sold 130,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $214.52, for a total transaction of $27,887,600.00. Also, insider Todd W. Gautier sold 11,972 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,548,838.80. Following the transaction, the insider now directly owns 29,153 shares in the company, valued at approximately $6,206,673.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 511,068 shares of company stock worth $108,033,097. 1.70% of the stock is owned by corporate insiders.
L3Harris Company Profile
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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