Valmark Advisers Inc. Purchases 55 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Valmark Advisers Inc. lifted its position in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,324 shares of the company’s stock after acquiring an additional 55 shares during the quarter. Valmark Advisers Inc.’s holdings in L3Harris Technologies were worth $922,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LHX. Capital World Investors raised its holdings in L3Harris Technologies by 80.6% in the third quarter. Capital World Investors now owns 11,965,226 shares of the company’s stock worth $2,635,221,000 after purchasing an additional 5,341,175 shares in the last quarter. Wellington Management Group LLP raised its holdings in L3Harris Technologies by 329.6% in the third quarter. Wellington Management Group LLP now owns 2,809,511 shares of the company’s stock worth $618,766,000 after purchasing an additional 2,155,533 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in L3Harris Technologies in the fourth quarter worth about $56,540,000. Qube Research & Technologies Ltd raised its holdings in L3Harris Technologies by 422.3% in the fourth quarter. Qube Research & Technologies Ltd now owns 307,639 shares of the company’s stock worth $65,601,000 after purchasing an additional 248,743 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in L3Harris Technologies by 5.2% in the third quarter. Geode Capital Management LLC now owns 3,344,378 shares of the company’s stock worth $734,454,000 after purchasing an additional 166,151 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Shares of NYSE LHX opened at $258.03 on Monday. The business’s 50 day moving average price is $240.71 and its 200 day moving average price is $228.12. The firm has a market cap of $49.82 billion, a P/E ratio of 28.32, a P/E/G ratio of 4.33 and a beta of 0.76. L3Harris Technologies, Inc. has a 52 week low of $200.71 and a 52 week high of $279.71. The company has a quick ratio of 1.18, a current ratio of 1.40 and a debt-to-equity ratio of 0.36.

L3Harris Technologies (NYSE:LHXGet Rating) last issued its earnings results on Monday, January 31st. The company reported $3.30 EPS for the quarter, beating the Zacks’ consensus estimate of $3.25 by $0.05. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.47 billion. L3Harris Technologies had a return on equity of 13.26% and a net margin of 10.36%. L3Harris Technologies’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.14 earnings per share. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.57 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 11th were given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.02. L3Harris Technologies’s dividend payout ratio is currently 49.18%.

In other L3Harris Technologies news, insider Edward J. Zoiss sold 4,730 shares of the company’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $220.00, for a total value of $1,040,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

A number of brokerages have commented on LHX. StockNews.com began coverage on shares of L3Harris Technologies in a report on Thursday, March 31st. They issued a “buy” rating for the company. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $266.00 price target on the stock in a research note on Tuesday, January 11th. Susquehanna dropped their price target on L3Harris Technologies from $264.00 to $255.00 and set a “positive” rating on the stock in a research note on Tuesday, February 1st. Susquehanna Bancshares dropped their price target on L3Harris Technologies from $264.00 to $255.00 and set a “positive” rating on the stock in a research note on Tuesday, February 1st. Finally, TheStreet upgraded L3Harris Technologies from a “c” rating to a “b-” rating in a research note on Monday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $252.73.

L3Harris Technologies 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.

See Also

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

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