Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in L3Harris (NYSE:LHX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 396 shares of the company’s stock, valued at approximately $83,000.
Several other large investors have also recently added to or reduced their stakes in LHX. Mackay Shields LLC purchased a new stake in shares of L3Harris during the third quarter worth $22,024,000. Public Employees Retirement System of Ohio purchased a new stake in L3Harris during the 2nd quarter worth $13,188,000. Stonebridge Capital Management Inc. purchased a new stake in L3Harris during the 3rd quarter worth $907,000. Peddock Capital Advisors LLC purchased a new stake in L3Harris during the 3rd quarter worth $455,000. Finally, Scott & Selber Inc. purchased a new stake in L3Harris during the 3rd quarter worth $2,091,000. 97.80% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on LHX. Zacks Investment Research raised shares of L3Harris from a “hold” rating to a “buy” rating and set a $219.00 price target on the stock in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on shares of L3Harris from $210.00 to $235.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Jefferies Financial Group increased their price objective on shares of L3Harris from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Buckingham Research increased their price objective on shares of L3Harris from $197.00 to $237.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, ValuEngine lowered shares of L3Harris from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $235.89.
L3Harris (NYSE:LHX) last announced its earnings results on Wednesday, October 30th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.19. L3Harris had a return on equity of 16.42% and a net margin of 12.02%. The firm had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.43 billion. The firm’s quarterly revenue was up 187.4% on a year-over-year basis. On average, research analysts expect that L3Harris will post 9.97 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.00 annualized dividend and a yield of 1.51%. L3Harris’s dividend payout ratio is currently 36.19%.
In other L3Harris news, CEO William M. Brown sold 106,552 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $207.82, for a total value of $22,143,636.64. Also, Director Thomas A. Dattilo bought 1,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average price of $200.80 per share, with a total value of $200,800.00. In the last 90 days, insiders sold 511,068 shares of company stock valued at $108,033,097. 1.70% of the stock is owned by corporate insiders.
L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.
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