Cetera Advisor Networks LLC increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,124 shares of the company’s stock after purchasing an additional 534 shares during the period. Cetera Advisor Networks LLC’s holdings in L3Harris Technologies were worth $4,527,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cowa LLC bought a new position in shares of L3Harris Technologies in the first quarter valued at $26,000. GoalVest Advisory LLC increased its holdings in shares of L3Harris Technologies by 179.6% in the second quarter. GoalVest Advisory LLC now owns 137 shares of the company’s stock valued at $27,000 after buying an additional 88 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of L3Harris Technologies in the first quarter valued at $27,000. Eagle Bay Advisors LLC bought a new position in shares of L3Harris Technologies in the second quarter valued at $30,000. Finally, CVA Family Office LLC increased its holdings in shares of L3Harris Technologies by 58.0% in the second quarter. CVA Family Office LLC now owns 158 shares of the company’s stock valued at $31,000 after buying an additional 58 shares in the last quarter. Institutional investors own 81.33% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the stock. Sanford C. Bernstein cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $239.00 to $210.00 in a research report on Monday, August 28th. Royal Bank of Canada lowered their price objective on shares of L3Harris Technologies from $240.00 to $225.00 and set an “outperform” rating on the stock in a research report on Monday, October 30th. Wells Fargo & Company upgraded shares of L3Harris Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $204.00 to $209.00 in a report on Monday, September 18th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. Finally, Robert W. Baird upgraded shares of L3Harris Technologies from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $198.00 to $216.00 in a report on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $222.75.
In other news, President Edward J. Zoiss sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $90.84, for a total transaction of $2,725,200.00. Following the completion of the transaction, the president now owns 31,923 shares of the company’s stock, valued at $2,899,885.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is owned by company insiders.
L3Harris Technologies Stock Up 0.4 %
L3Harris Technologies stock opened at $186.48 on Tuesday. The firm has a fifty day moving average price of $176.62 and a two-hundred day moving average price of $183.47. The firm has a market cap of $35.35 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 4.19 and a beta of 0.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.69. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $230.73.
L3Harris Technologies (NYSE:LHX – Get Free Report) last announced its quarterly earnings data on Thursday, October 26th. The company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.13. The business had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.95 billion. L3Harris Technologies had a net margin of 7.96% and a return on equity of 12.66%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.26 earnings per share. As a group, analysts forecast that L3Harris Technologies, Inc. will post 12.31 earnings per share for the current year.
L3Harris Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Thursday, November 16th. L3Harris Technologies’s dividend payout ratio is currently 58.61%.
About L3Harris Technologies
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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