IFM Investors Pty Ltd decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 55.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,254 shares of the company’s stock after selling 15,222 shares during the period. IFM Investors Pty Ltd’s holdings in L3Harris Technologies were worth $2,699,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Eagle Bay Advisors LLC purchased a new position in L3Harris Technologies during the second quarter valued at $48,000. Patriot Financial Group Insurance Agency LLC lifted its position in L3Harris Technologies by 18.2% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 292 shares of the company’s stock valued at $63,000 after buying an additional 45 shares during the period. Alpha Paradigm Partners LLC purchased a new position in L3Harris Technologies during the second quarter valued at $79,000. Liberty Wealth Management LLC lifted its position in L3Harris Technologies by 21,514.8% during the second quarter. Liberty Wealth Management LLC now owns 17,508 shares of the company’s stock valued at $81,000 after buying an additional 17,427 shares during the period. Finally, MUFG Americas Holdings Corp lifted its position in L3Harris Technologies by 23.4% during the second quarter. MUFG Americas Holdings Corp now owns 475 shares of the company’s stock valued at $103,000 after buying an additional 90 shares during the period. 80.36% of the stock is owned by institutional investors.
Several brokerages have commented on LHX. Wells Fargo & Company raised their price objective on L3Harris Technologies from $240.00 to $243.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 2nd. Credit Suisse Group lifted their price target on L3Harris Technologies from $243.00 to $254.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 4th. The Goldman Sachs Group lowered L3Harris Technologies from a “neutral” rating to a “sell” rating and set a $207.00 price target for the company. in a research report on Thursday, September 23rd. Raymond James lifted their price objective on L3Harris Technologies from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 4th. Finally, Wolfe Research initiated coverage on L3Harris Technologies in a report on Wednesday, September 8th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $236.17.
Shares of NYSE:LHX opened at $218.74 on Thursday. The stock has a 50 day moving average of $226.58 and a 200 day moving average of $225.10. The company has a market cap of $42.92 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 2.64 and a beta of 0.88. The company has a current ratio of 1.54, a quick ratio of 1.30 and a debt-to-equity ratio of 0.36. L3Harris Technologies, Inc. has a 12-month low of $168.70 and a 12-month high of $246.08.
L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, October 29th. The company reported $3.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.18 by $0.03. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.52 billion. L3Harris Technologies had a return on equity of 13.08% and a net margin of 8.58%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.84 EPS. Equities research analysts predict that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 3rd. Investors of record on Friday, November 19th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Thursday, November 18th. This represents a $4.08 dividend on an annualized basis and a yield of 1.87%. L3Harris Technologies’s dividend payout ratio is presently 53.97%.
About L3Harris Technologies
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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