Waratah Capital Advisors Ltd. bought a new position in shares of L3Harris (NYSE:LHX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,633 shares of the company’s stock, valued at approximately $4,514,000.
A number of other institutional investors have also bought and sold shares of the business. Lindbrook Capital LLC bought a new position in shares of L3Harris in the second quarter valued at approximately $25,000. Squar Milner Financial Services LLC raised its holdings in L3Harris by 500.0% in the 3rd quarter. Squar Milner Financial Services LLC now owns 120 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Sonora Investment Management LLC bought a new position in L3Harris in the 3rd quarter worth $26,000. Wealthcare Capital Management LLC bought a new position in L3Harris in the 3rd quarter worth $26,000. Finally, D Orazio & Associates Inc. acquired a new position in L3Harris during the 3rd quarter worth $27,000. 81.36% of the stock is currently owned by hedge funds and other institutional investors.
In other L3Harris news, CEO William M. Brown sold 106,552 shares of L3Harris stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $207.82, for a total transaction of $22,143,636.64. Also, Director Thomas A. Dattilo acquired 1,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $200.80 per share, for a total transaction of $200,800.00. Insiders sold 423,052 shares of company stock valued at $89,550,037 over the last 90 days. 1.70% of the stock is currently owned by corporate insiders.
A number of equities research analysts have issued reports on the stock. Buckingham Research upped their price target on shares of L3Harris from $197.00 to $237.00 and gave the company a “buy” rating in a report on Thursday, August 8th. ValuEngine cut L3Harris from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Zacks Investment Research upgraded L3Harris from a “hold” rating to a “buy” rating and set a $219.00 target price for the company in a research note on Friday, November 1st. UBS Group set a $225.00 target price on L3Harris and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Cowen reaffirmed a “buy” rating and issued a $210.00 price target on shares of L3Harris in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $235.82.
Shares of NYSE:LHX traded down $0.11 on Tuesday, hitting $194.16. 15,799 shares of the company were exchanged, compared to its average volume of 1,398,616. The firm’s 50 day moving average price is $200.66. L3Harris has a one year low of $123.24 and a one year high of $217.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.49 and a quick ratio of 1.21. The stock has a market capitalization of $44.45 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 2.51 and a beta of 0.88.
L3Harris (NYSE:LHX) last released its earnings results on Wednesday, October 30th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.19. L3Harris had a return on equity of 16.42% and a net margin of 12.02%. The business had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.43 billion. L3Harris’s revenue for the quarter was up 187.4% on a year-over-year basis. As a group, equities analysts expect that L3Harris will post 10 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors 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 dividend on an annualized basis and a dividend yield of 1.55%. L3Harris’s payout ratio is 36.19%.
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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