Korea Investment CORP lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 16.2% in the second quarter, HoldingsChannel reports. The firm owned 131,054 shares of the company’s stock after acquiring an additional 18,293 shares during the period. Korea Investment CORP’s holdings in L3Harris Technologies were worth $31,676,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Bank of America Corp DE grew its stake in L3Harris Technologies by 39.9% in the 1st quarter. Bank of America Corp DE now owns 8,046,413 shares of the company’s stock worth $1,999,292,000 after acquiring an additional 2,293,072 shares during the period. Capital Research Global Investors grew its stake in L3Harris Technologies by 98.0% in the 1st quarter. Capital Research Global Investors now owns 3,630,501 shares of the company’s stock worth $902,071,000 after acquiring an additional 1,796,538 shares during the period. Wellington Management Group LLP grew its stake in L3Harris Technologies by 44.5% in the 1st quarter. Wellington Management Group LLP now owns 5,514,051 shares of the company’s stock worth $1,370,076,000 after acquiring an additional 1,698,964 shares during the period. Invesco Ltd. grew its stake in L3Harris Technologies by 145.5% in the 1st quarter. Invesco Ltd. now owns 1,893,042 shares of the company’s stock worth $470,364,000 after acquiring an additional 1,121,885 shares during the period. Finally, Cowa LLC purchased a new stake in L3Harris Technologies in the 1st quarter worth approximately $26,000. 83.00% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have weighed in on LHX. Morgan Stanley decreased their price target on shares of L3Harris Technologies from $276.00 to $263.00 and set an “equal weight” rating on the stock in a report on Thursday, November 10th. Argus lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Wolfe Research began coverage on shares of L3Harris Technologies in a report on Monday, October 10th. They issued a “peer perform” rating on the stock. Royal Bank of Canada began coverage on shares of L3Harris Technologies in a report on Monday, August 29th. They issued an “outperform” rating and a $285.00 price target on the stock. Finally, Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, October 28th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $269.42.
Insiders Place Their Bets
L3Harris Technologies Stock Performance
NYSE:LHX opened at $226.43 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $43.11 billion, a price-to-earnings ratio of 39.31, a PEG ratio of 6.47 and a beta of 0.75. The firm’s fifty day simple moving average is $229.46 and its 200 day simple moving average is $232.50. L3Harris Technologies, Inc. has a twelve month low of $200.71 and a twelve month high of $279.71.
L3Harris Technologies (NYSE:LHX – Get Rating) last posted its earnings results on Thursday, October 27th. The company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.47 by ($0.21). L3Harris Technologies had a net margin of 6.71% and a return on equity of 13.18%. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the previous year, the firm posted $3.21 EPS. The business’s revenue was up .4% compared to the same quarter last year. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 12.86 earnings per share for the current fiscal year.
L3Harris Technologies Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be issued a $1.12 dividend. The ex-dividend date is Thursday, November 17th. This represents a $4.48 dividend on an annualized basis and a yield of 1.98%. L3Harris Technologies’s dividend payout ratio is currently 77.78%.
L3Harris Technologies Profile
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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