State Street Corp Has $1.56 Billion Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

State Street Corp decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,183,678 shares of the company’s stock after selling 4,590 shares during the period. State Street Corp’s holdings in L3Harris Technologies were worth $1,559,756,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in LHX. Wells Fargo & Company MN lifted its holdings in shares of L3Harris Technologies by 10.5% during the 3rd quarter. Wells Fargo & Company MN now owns 5,484,453 shares of the company’s stock worth $931,480,000 after acquiring an additional 519,647 shares during the period. Bank of New York Mellon Corp grew its position in shares of L3Harris Technologies by 36.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,862,343 shares of the company’s stock worth $485,655,000 after buying an additional 766,660 shares during the period. California Public Employees Retirement System grew its position in shares of L3Harris Technologies by 1.9% in the 3rd quarter. California Public Employees Retirement System now owns 1,768,274 shares of the company’s stock worth $300,324,000 after buying an additional 32,702 shares during the period. Alps Advisors Inc. grew its position in shares of L3Harris Technologies by 146,648.1% in the 3rd quarter. Alps Advisors Inc. now owns 1,759,510 shares of the company’s stock worth $2,462,000 after buying an additional 1,758,311 shares during the period. Finally, Bank of America Corp DE grew its position in shares of L3Harris Technologies by 15.3% in the 2nd quarter. Bank of America Corp DE now owns 1,759,143 shares of the company’s stock worth $298,473,000 after buying an additional 233,253 shares during the period. 82.28% of the stock is owned by institutional investors.

LHX opened at $191.50 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.00 and a current ratio of 1.37. The stock has a market capitalization of $40.24 billion, a P/E ratio of 31.71, a P/E/G ratio of 1.05 and a beta of 0.70. The company’s 50-day simple moving average is $177.20 and its two-hundred day simple moving average is $179.05. L3Harris Technologies, Inc. has a 52-week low of $142.01 and a 52-week high of $230.99.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Friday, October 30th. The company reported $2.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.10. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.50 billion. L3Harris Technologies had a net margin of 7.18% and a return on equity of 11.29%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 EPS. Research analysts forecast that L3Harris Technologies, Inc. will post 11.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 20th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 19th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 33.73%.

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein upped their target price on shares of L3Harris Technologies from $243.00 to $258.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. They noted that the move was a valuation call. UBS Group raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 30th. ValuEngine downgraded shares of L3Harris Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, October 1st. Cowen started coverage on shares of L3Harris Technologies in a research report on Sunday, August 2nd. They set a “buy” rating and a $240.00 price objective on the stock. Finally, The Goldman Sachs Group downgraded shares of L3Harris Technologies from a “conviction-buy” rating to a “buy” rating in a research report on Sunday, September 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $239.24.

L3Harris Technologies Profile

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, modifications, and periodic depot maintenance services for ISR and airborne missions.

Featured Story: What is the LIBOR?

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies, Inc. (NYSE:LHX).

Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

Receive News & Ratings for L3Harris Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris Technologies and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit