Kovac Advisors Inc. boosted its position in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,126 shares of the company’s stock after buying an additional 90 shares during the quarter. Kovack Advisors Inc.’s holdings in L3Harris Technologies were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the company. The State of Wyoming increased its holdings in shares of L3Harris Technologies by 27.1% during the fourth quarter. The State of Wyoming now owns 230 shares of the company’s stock valued at $48,000 after acquiring an additional 49 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of L3Harris Technologies by 0.9% during the fourth quarter. Apollon Wealth Management LLC now owns 5,925 shares of the company’s stock valued at $1,234,000 after acquiring an additional 52 shares in the last quarter. Titleist Asset Management LTD. increased its holdings in shares of L3Harris Technologies by 4.9% during the fourth quarter. Titleist Asset Management LTD. now owns 1,137 shares of the company’s stock valued at $237,000 after acquiring an additional 53 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp increased its holdings in shares of L3Harris Technologies by 2.0% during the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 2,809 shares of the company’s stock valued at $584,000 after acquiring an additional 55 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of L3Harris Technologies by 2.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,618 shares of the company’s stock valued at $545,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 82.18% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equity analysts have recently weighed in on LHX shares. Robert W. Baird reduced their price target on L3Harris Technologies from $241.00 to $222.00 in a report on Monday, May 1st. StockNews.com assumed coverage on L3Harris Technologies in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Credit Suisse Group dropped their price objective on L3Harris Technologies from $240.00 to $234.00 in a research report on Monday, May 1st. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $250.00.
L3Harris Technologies Stock Up 1.1 %
NYSE LHX opened at $195.57 on Friday. The stock’s 50-day moving average price is $190.07 and its 200-day moving average price is $200.75. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.45. L3Harris Technologies, Inc. has a 52 week low of $174.55 and a 52 week high of $255.10. The company has a market capitalization of $37.05 billion, a P/E ratio of 40.83, a price-to-earnings-growth ratio of 6.09 and a beta of 0.71.
L3Harris Technologies (NYSE:LHX – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.01). L3Harris Technologies has a return on equity of 13.03% and a net margin of 5.30%. The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the business earned $3.12 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equity research analysts predict that L3Harris Technologies, Inc. will post 12.32 earnings per share for the current year.
L3Harris Technologies Announces Dividends
The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, June 1st. L3Harris Technologies’s dividend payout ratio (DPR) is presently 95.20%.
About L3Harris Technologies
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L3Harris Technologies, Inc. engages in the provision of defense and commercial technologies across the 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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