Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in L3Harris (NYSE:LHX) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,896 shares of the company’s stock after purchasing an additional 1,721 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in L3Harris were worth $8,987,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Analyst IMS Investment Management Services Ltd. acquired a new position in shares of L3Harris during the first quarter worth about $412,000. Tredje AP fonden lifted its stake in L3Harris by 19.7% in the 1st quarter. Tredje AP fonden now owns 16,284 shares of the company’s stock valued at $3,846,000 after acquiring an additional 2,682 shares in the last quarter. National Asset Management Inc. boosted its position in L3Harris by 13.5% during the 1st quarter. National Asset Management Inc. now owns 4,620 shares of the company’s stock worth $833,000 after acquiring an additional 550 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of L3Harris by 34.1% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 11,513 shares of the company’s stock worth $2,074,000 after acquiring an additional 2,926 shares in the last quarter. Finally, Biltmore Family Office LLC bought a new position in shares of L3Harris during the 1st quarter worth approximately $773,000. Institutional investors own 84.80% of the company’s stock.
NYSE LHX traded down $3.67 during trading hours on Friday, hitting $180.45. 1,084,672 shares of the company’s stock were exchanged, compared to its average volume of 1,330,704. The firm has a market cap of $39.75 billion, a price-to-earnings ratio of 26.30 and a beta of 0.77. The stock has a 50-day simple moving average of $186.73 and a 200 day simple moving average of $198.97. The company has a current ratio of 1.41, a quick ratio of 1.21 and a debt-to-equity ratio of 0.32. L3Harris has a 1-year low of $142.01 and a 1-year high of $230.99.
L3Harris (NYSE:LHX) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.19. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.60 billion. L3Harris had a return on equity of 13.20% and a net margin of 8.30%. The company’s revenue for the quarter was up 167.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.32 EPS. On average, sell-side analysts anticipate that L3Harris will post 11.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, June 1st. L3Harris’s dividend payout ratio is presently 33.73%.
Several brokerages recently commented on LHX. Cfra increased their target price on shares of L3Harris from $235.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Seaport Global Securities assumed coverage on shares of L3Harris in a research note on Tuesday. They set a “buy” rating and a $225.00 price objective for the company. Morgan Stanley lifted their target price on L3Harris from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Robert W. Baird increased their price target on L3Harris from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Finally, Sanford C. Bernstein raised their price target on L3Harris from $217.00 to $236.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $239.80.
L3Harris Company Profile
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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