Comerica Bank increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 53.1% in the 1st quarter, Holdings Channel reports. The firm owned 87,479 shares of the company’s stock after buying an additional 30,339 shares during the period. Comerica Bank’s holdings in L3Harris Technologies were worth $18,460,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. TD Ameritrade Investment Management LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $25,000. Exchange Traded Concepts LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $30,000. Piscataqua Savings Bank bought a new position in shares of L3Harris Technologies during the first quarter worth $30,000. DB Wealth Management Group LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at $32,000. Finally, Sage Private Wealth Group LLC purchased a new position in L3Harris Technologies in the 4th quarter worth about $35,000. 80.58% of the stock is owned by hedge funds and other institutional investors.
NYSE LHX opened at $211.74 on Tuesday. The firm’s 50-day moving average is $204.51 and its two-hundred day moving average is $189.69. L3Harris Technologies, Inc. has a 12 month low of $158.09 and a 12 month high of $213.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.37 and a quick ratio of 1.18. The stock has a market capitalization of $43.53 billion, a P/E ratio of 35.06, a PEG ratio of 0.96 and a beta of 0.80.
L3Harris Technologies (NYSE:LHX) last posted its earnings results on Friday, April 30th. The company reported $3.18 EPS for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.26. L3Harris Technologies had a net margin of 7.18% and a return on equity of 11.29%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter in the prior year, the company posted $2.80 earnings per share. L3Harris Technologies’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 11.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be given a $1.02 dividend. The ex-dividend date is Friday, May 28th. This represents a $4.08 dividend on an annualized basis and a yield of 1.93%. L3Harris Technologies’s payout ratio is currently 40.48%.
A number of analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of L3Harris Technologies from $235.00 to $250.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird cut shares of L3Harris Technologies from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $242.00 to $210.00 in a research note on Thursday, January 7th. TheStreet cut shares of L3Harris Technologies from a “b” rating to a “c” rating in a research note on Friday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $208.00 target price on shares of L3Harris Technologies in a research note on Wednesday, April 14th. Finally, Morgan Stanley lifted their target price on shares of L3Harris Technologies from $226.00 to $238.00 and gave the stock an “overweight” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. L3Harris Technologies currently has an average rating of “Buy” and a consensus price target of $226.21.
About L3Harris Technologies
L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across 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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