Sigma Planning Corp acquired a new position in shares of L3Harris (NYSE:LHX) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,112 shares of the company’s stock, valued at approximately $649,000.
Several other large investors also recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in L3Harris in the 2nd quarter valued at $13,188,000. Stonebridge Capital Management Inc. acquired a new stake in L3Harris in the 3rd quarter valued at $907,000. Peddock Capital Advisors LLC acquired a new stake in L3Harris in the 3rd quarter valued at $455,000. Scott & Selber Inc. acquired a new stake in L3Harris in the 3rd quarter valued at $2,091,000. Finally, Wealthfront Advisers LLC acquired a new stake in L3Harris in the 3rd quarter valued at $1,545,000. Institutional investors and hedge funds own 97.80% of the company’s stock.
LHX has been the topic of several recent research reports. Barclays reiterated a “buy” rating and issued a $270.00 price target on shares of L3Harris in a research note on Wednesday, October 9th. Morgan Stanley assumed coverage on shares of L3Harris in a research note on Tuesday, August 6th. They set an “overweight” rating and a $259.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of L3Harris from $210.00 to $235.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Jefferies Financial Group boosted their price objective on shares of L3Harris from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Credit Suisse Group boosted their price objective on shares of L3Harris from $220.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $235.89.
L3Harris (NYSE:LHX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.39 by $0.19. The firm had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.43 billion. L3Harris had a net margin of 12.02% and a return on equity of 16.42%. The company’s quarterly revenue was up 187.4% compared to the same quarter last year. As a group, research analysts forecast that L3Harris will post 9.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, November 21st. L3Harris’s dividend payout ratio is currently 36.19%.
In other news, Director Thomas A. Dattilo bought 1,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $200.80 per share, for a total transaction of $200,800.00. Also, CEO William M. Brown sold 130,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $211.07, for a total transaction of $27,439,100.00. The disclosure for this sale can be found here. Insiders sold a total of 511,068 shares of company stock valued at $108,033,097 in the last three months. Insiders own 1.70% of the company’s stock.
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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