Bard Financial Services Inc. bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, HoldingsChannel reports. The firm bought 4,080 shares of the company’s stock, valued at approximately $771,000.
A number of other hedge funds have also recently added to or reduced their stakes in LHX. TD Ameritrade Investment Management LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth about $25,000. Exchange Traded Concepts LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $30,000. DB Wealth Management Group LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $32,000. Sage Private Wealth Group LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $35,000. Finally, Birchcreek Wealth Management LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $37,000. 80.58% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on LHX shares. The Goldman Sachs Group downgraded L3Harris Technologies from a “buy” rating to a “neutral” rating and set a $208.00 price objective on the stock. in a report on Thursday. Susquehanna Bancshares began coverage on shares of L3Harris Technologies in a research note on Monday, December 14th. They issued a “positive” rating and a $230.00 target price for the company. Citigroup dropped their price objective on shares of L3Harris Technologies from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, February 1st. JPMorgan Chase & Co. cut shares of L3Harris Technologies from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $220.00 to $215.00 in a research report on Tuesday, December 15th. Finally, Cowen restated a “buy” rating and issued a $210.00 price objective on shares of L3Harris Technologies in a research report on Friday, February 5th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. L3Harris Technologies presently has an average rating of “Buy” and an average price target of $225.80.
L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 28th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.05. L3Harris Technologies had a net margin of 7.18% and a return on equity of 11.29%. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the previous year, the business earned $2.85 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. Research analysts expect that L3Harris Technologies, Inc. will post 11.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Friday, March 12th were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, March 11th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $0.85. This represents a $4.08 dividend on an annualized basis and a yield of 1.96%. L3Harris Technologies’s dividend payout ratio is presently 40.48%.
L3Harris Technologies Profile
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.
Recommended Story: What is dividend yield?
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).
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.