Nicholas Hoffman & Company LLC. raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 10.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,587 shares of the company’s stock after acquiring an additional 144 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in L3Harris Technologies were worth $343,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. First Bank & Trust increased its position in shares of L3Harris Technologies by 5.8% during the second quarter. First Bank & Trust now owns 3,554 shares of the company’s stock valued at $768,000 after buying an additional 194 shares during the period. Tower Bridge Advisors increased its position in shares of L3Harris Technologies by 2.9% during the second quarter. Tower Bridge Advisors now owns 31,577 shares of the company’s stock valued at $6,825,000 after buying an additional 897 shares during the period. South State Corp increased its position in shares of L3Harris Technologies by 17.3% during the second quarter. South State Corp now owns 50,915 shares of the company’s stock valued at $11,005,000 after buying an additional 7,518 shares during the period. Empirical Finance LLC increased its position in shares of L3Harris Technologies by 11.9% during the second quarter. Empirical Finance LLC now owns 2,594 shares of the company’s stock valued at $561,000 after buying an additional 276 shares during the period. Finally, Aviva PLC increased its position in shares of L3Harris Technologies by 5.4% during the second quarter. Aviva PLC now owns 73,625 shares of the company’s stock valued at $15,914,000 after buying an additional 3,786 shares during the period. Hedge funds and other institutional investors own 80.54% of the company’s stock.
Several equities analysts recently issued reports on LHX shares. Wolfe Research started coverage on shares of L3Harris Technologies in a research report on Wednesday, September 8th. They set a “market perform” rating on the stock. Credit Suisse Group raised their price target on shares of L3Harris Technologies from $243.00 to $254.00 and gave the company an “outperform” rating in a research report on Wednesday, August 4th. Wells Fargo & Company increased their target price on L3Harris Technologies from $225.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 4th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and set a $238.00 price target on the stock. in a report on Wednesday, August 11th. Finally, Susquehanna lifted their price objective on L3Harris Technologies from $244.00 to $270.00 and gave the stock a “positive” rating in a report on Wednesday, August 4th. Seven research 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.com, L3Harris Technologies presently has an average rating of “Buy” and an average price target of $233.77.
L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Tuesday, August 3rd. The company reported $3.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.18 by $0.08. L3Harris Technologies had a return on equity of 12.60% and a net margin of 8.17%. The firm had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.62 billion. During the same period in the previous year, the firm earned $2.83 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 13.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 17th. Stockholders of record on Friday, September 3rd will be paid a $1.02 dividend. The ex-dividend date is Thursday, September 2nd. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.80%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 35.17%.
In related news, SVP Scott T. Mikuen sold 2,826 shares of the firm’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $225.36, for a total transaction of $636,867.36. Following the completion of the transaction, the senior vice president now directly owns 67,712 shares of the company’s stock, valued at $15,259,576.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William M. Brown sold 85,162 shares of the firm’s stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $231.99, for a total transaction of $19,756,732.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 370,609 shares of company stock valued at $85,440,562. Corporate insiders own 1.40% of the company’s stock.
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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