Prudent Man Advisors LLC lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 9.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,449 shares of the company’s stock after selling 580 shares during the period. Prudent Man Advisors LLC’s holdings in L3Harris Technologies were worth $1,162,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. raised its stake in shares of L3Harris Technologies by 2.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,994 shares of the company’s stock worth $425,000 after acquiring an additional 47 shares in the last quarter. Main Street Financial Solutions LLC lifted its holdings in L3Harris Technologies by 5.1% in the fourth quarter. Main Street Financial Solutions LLC now owns 1,010 shares of the company’s stock valued at $215,000 after acquiring an additional 49 shares during the period. Concord Wealth Partners increased its position in shares of L3Harris Technologies by 69.4% during the fourth quarter. Concord Wealth Partners now owns 122 shares of the company’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. WealthBridge Investment Counsel Inc. lifted its stake in L3Harris Technologies by 0.3% during the 4th quarter. WealthBridge Investment Counsel Inc. now owns 19,185 shares of the company’s stock worth $4,091,000 after acquiring an additional 50 shares in the last quarter. Finally, Griffin Asset Management Inc. grew its stake in shares of L3Harris Technologies by 1.0% in the 4th quarter. Griffin Asset Management Inc. now owns 4,895 shares of the company’s stock valued at $1,044,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 80.15% of the company’s stock.
A number of equities research analysts have recently commented on the company. TheStreet upgraded L3Harris Technologies from a “c” rating to a “b-” rating in a research report on Monday, January 31st. Jefferies Financial Group reduced their price objective on shares of L3Harris Technologies from $320.00 to $300.00 in a research note on Monday, May 2nd. Morgan Stanley lifted their price objective on shares of L3Harris Technologies from $230.00 to $276.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 2nd. Wells Fargo & Company lifted their price target on shares of L3Harris Technologies from $240.00 to $291.00 and gave the company an “overweight” rating in a research note on Monday, March 7th. Finally, Susquehanna decreased their price target on shares of L3Harris Technologies from $302.00 to $298.00 in a report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $265.09.
L3Harris Technologies (NYSE:LHX – Get Rating) last issued its earnings results on Thursday, April 28th. The company reported $3.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.06. L3Harris Technologies had a net margin of 10.68% and a return on equity of 13.18%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the previous year, the company earned $3.18 earnings per share. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities research analysts predict that L3Harris Technologies, Inc. will post 13.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Stockholders of record on Friday, June 3rd will be given a dividend of $1.12 per share. The ex-dividend date is Thursday, June 2nd. This represents a $4.48 annualized dividend and a dividend yield of 1.90%. L3Harris Technologies’s payout ratio is 48.17%.
L3Harris Technologies Company Profile (Get Rating)
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, modification, and periodic depot maintenance services for ISR and airborne missions.
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