Wedgewood Investors Inc. PA Has $1.11 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)


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Wedgewood Investors Inc. PA lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 4.5% in the first quarter, HoldingsChannel.com reports. The fund owned 5,496 shares of the company’s stock after selling 260 shares during the quarter. L3Harris Technologies accounts for approximately 1.4% of Wedgewood Investors Inc. PA’s portfolio, making the stock its 21st biggest holding. Wedgewood Investors Inc. PA’s holdings in L3Harris Technologies were worth $1,114,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Dividend Assets Capital LLC lifted its stake in L3Harris Technologies by 0.9% in the first quarter. Dividend Assets Capital LLC now owns 65,032 shares of the company’s stock valued at $13,181,000 after acquiring an additional 586 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of L3Harris Technologies by 17.9% during the 1st quarter. Park Avenue Securities LLC now owns 8,565 shares of the company’s stock worth $1,736,000 after buying an additional 1,303 shares during the last quarter. New England Investment & Retirement Group Inc. lifted its stake in shares of L3Harris Technologies by 7.9% during the 1st quarter. New England Investment & Retirement Group Inc. now owns 1,476 shares of the company’s stock worth $299,000 after buying an additional 108 shares during the last quarter. WASHINGTON TRUST Co lifted its stake in shares of L3Harris Technologies by 140.1% during the 1st quarter. WASHINGTON TRUST Co now owns 605 shares of the company’s stock worth $122,000 after buying an additional 353 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in shares of L3Harris Technologies by 2.8% during the 1st quarter. DAVENPORT & Co LLC now owns 328,126 shares of the company’s stock worth $66,505,000 after buying an additional 8,939 shares during the last quarter. Hedge funds and other institutional investors own 80.58% of the company’s stock.

NYSE:LHX traded up $1.33 during mid-day trading on Tuesday, reaching $213.07. The stock had a trading volume of 10,925 shares, compared to its average volume of 1,227,328. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.37 and a quick ratio of 1.18. The stock’s 50 day simple moving average is $204.51 and its two-hundred day simple moving average is $189.69. L3Harris Technologies, Inc. has a 1-year low of $158.09 and a 1-year high of $213.00. The company has a market capitalization of $43.80 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 0.96 and a beta of 0.80.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Friday, April 30th. The company reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.26. L3Harris Technologies had a net margin of 7.18% and a return on equity of 11.29%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the previous year, the business earned $2.80 EPS. The company’s revenue was down 1.3% on a year-over-year basis. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.55 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, May 28th. L3Harris Technologies’s dividend payout ratio is currently 40.48%.

Several equities research analysts recently commented on LHX shares. TheStreet downgraded shares of L3Harris Technologies from a “b” rating to a “c” rating in a research report on Friday. Cowen restated a “buy” rating and issued a $210.00 price objective on shares of L3Harris Technologies in a research report on Friday, February 5th. Robert W. Baird cut shares of L3Harris Technologies from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $242.00 to $210.00 in a research report on Thursday, January 7th. Credit Suisse Group raised their price target on L3Harris Technologies from $200.00 to $223.00 and gave the stock an “outperform” rating in a research note on Monday, April 19th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $208.00 price target on shares of L3Harris Technologies in a report on Wednesday, April 14th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. L3Harris Technologies currently has an average rating of “Buy” and an average price target of $226.21.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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