Rockefeller Capital Management L.P. grew its position in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 6.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,768 shares of the company’s stock after buying an additional 2,392 shares during the period. Rockefeller Capital Management L.P.’s holdings in L3Harris Technologies were worth $8,266,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in L3Harris Technologies in the third quarter valued at approximately $258,000. Scotia Capital Inc. boosted its position in shares of L3Harris Technologies by 2.7% in the 3rd quarter. Scotia Capital Inc. now owns 2,723 shares of the company’s stock worth $600,000 after purchasing an additional 71 shares in the last quarter. Bank of Nova Scotia grew its stake in L3Harris Technologies by 98.1% during the 3rd quarter. Bank of Nova Scotia now owns 63,170 shares of the company’s stock worth $13,911,000 after buying an additional 31,280 shares during the last quarter. Vident Investment Advisory LLC increased its position in L3Harris Technologies by 53.0% during the 3rd quarter. Vident Investment Advisory LLC now owns 4,838 shares of the company’s stock valued at $1,065,000 after buying an additional 1,676 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in L3Harris Technologies by 9.8% in the third quarter. The Manufacturers Life Insurance Company now owns 243,143 shares of the company’s stock valued at $53,549,000 after buying an additional 21,752 shares during the last quarter. 80.15% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on LHX. Susquehanna Bancshares lowered their target price on shares of L3Harris Technologies from $302.00 to $298.00 in a research note on Monday, May 2nd. Wells Fargo & Company raised their target price on L3Harris Technologies from $240.00 to $291.00 and gave the stock an “overweight” rating in a research note on Monday, March 7th. TheStreet upgraded L3Harris Technologies from a “c” rating to a “b-” rating in a research note on Monday, January 31st. Susquehanna reduced their price objective on L3Harris Technologies from $302.00 to $298.00 in a research note on Monday, May 2nd. Finally, StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday, April 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $265.09.
L3Harris Technologies (NYSE:LHX – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.10. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.13 billion. L3Harris Technologies had a return on equity of 13.18% and a net margin of 10.68%. L3Harris Technologies’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.18 earnings per share. On average, analysts anticipate that L3Harris Technologies, Inc. will post 13.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 17th. Shareholders of record on Friday, June 3rd will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Thursday, June 2nd. L3Harris Technologies’s dividend payout ratio is presently 48.17%.
About L3Harris Technologies (Get Rating)
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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