ETRADE Capital Management LLC Acquires Shares of 5,093 L3Harris (NYSE:LHX)

ETRADE Capital Management LLC acquired a new stake in L3Harris (NYSE:LHX) in the first quarter, HoldingsChannel.com reports. The fund acquired 5,093 shares of the company’s stock, valued at approximately $918,000.

A number of other hedge funds have also added to or reduced their stakes in LHX. Norges Bank acquired a new stake in L3Harris in the 4th quarter valued at about $406,936,000. Iridian Asset Management LLC CT acquired a new stake in L3Harris in the 4th quarter valued at about $152,639,000. Victory Capital Management Inc. increased its holdings in shares of L3Harris by 159.0% during the 4th quarter. Victory Capital Management Inc. now owns 1,026,027 shares of the company’s stock worth $227,091,000 after buying an additional 629,868 shares during the last quarter. Ceredex Value Advisors LLC increased its holdings in shares of L3Harris by 428.6% during the 4th quarter. Ceredex Value Advisors LLC now owns 735,326 shares of the company’s stock worth $145,499,000 after buying an additional 596,219 shares during the last quarter. Finally, Standard Life Aberdeen plc acquired a new stake in shares of L3Harris during the 4th quarter worth approximately $96,828,000. Institutional investors own 84.80% of the company’s stock.

Shares of LHX stock opened at $180.45 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. L3Harris has a 52 week low of $142.01 and a 52 week high of $230.99. The stock has a market capitalization of $39.75 billion, a PE ratio of 17.26 and a beta of 0.77. The firm has a 50 day moving average of $186.73 and a two-hundred day moving average of $198.97.

L3Harris (NYSE:LHX) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.61 by $0.19. L3Harris had a net margin of 8.30% and a return on equity of 13.20%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter last year, the company posted $2.32 EPS. The firm’s revenue was up 167.7% compared to the same quarter last year. Analysts expect that L3Harris will post 11.31 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd will be given a $0.85 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.40 annualized dividend and a yield of 1.88%. L3Harris’s dividend payout ratio is presently 33.73%.

A number of analysts have recently issued reports on LHX shares. Morgan Stanley raised their price target on shares of L3Harris from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Tuesday, April 14th. Bank of America started coverage on shares of L3Harris in a report on Thursday, April 16th. They set a “buy” rating and a $250.00 price target for the company. Seaport Global Securities started coverage on shares of L3Harris in a report on Tuesday. They set a “buy” rating and a $225.00 price target for the company. Raymond James raised their price target on shares of L3Harris from $219.00 to $239.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, Benchmark restated a “buy” rating and set a $260.00 price target (down previously from $280.00) on shares of L3Harris in a report on Wednesday, May 13th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $239.80.

About L3Harris

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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Institutional Ownership by Quarter for L3Harris (NYSE:LHX)

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