Sunbelt Securities Inc. Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Sunbelt Securities Inc. raised its position in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,090 shares of the company’s stock after buying an additional 179 shares during the period. Sunbelt Securities Inc.’s holdings in L3Harris Technologies were worth $642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. Cowa LLC purchased a new position in L3Harris Technologies in the 1st quarter valued at about $26,000. Eagle Bay Advisors LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $30,000. Wagner Wealth Management LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $32,000. Trustcore Financial Services LLC raised its stake in shares of L3Harris Technologies by 106.2% in the 3rd quarter. Trustcore Financial Services LLC now owns 167 shares of the company’s stock valued at $35,000 after purchasing an additional 86 shares in the last quarter. Finally, Old North State Trust LLC acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $38,000. 82.18% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $200.78 on Thursday. L3Harris Technologies, Inc. has a 1 year low of $189.73 and a 1 year high of $264.71. The firm’s fifty day simple moving average is $206.66 and its 200 day simple moving average is $218.53. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $38.17 billion, a PE ratio of 36.71, a PEG ratio of 6.40 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX – Get Rating) last posted its earnings results on Friday, January 27th. The company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.06. L3Harris Technologies had a net margin of 6.22% and a return on equity of 13.20%. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the business posted $3.30 EPS. L3Harris Technologies’s revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.32 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 2.27%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, March 9th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 83.36%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LHX. TheStreet lowered shares of L3Harris Technologies from a “b-” rating to a “c+” rating in a research note on Tuesday, November 22nd. Cowen dropped their price objective on shares of L3Harris Technologies from $260.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, January 12th. Credit Suisse Group decreased their price objective on shares of L3Harris Technologies from $244.00 to $240.00 and set an “outperform” rating for the company in a report on Friday, January 20th. JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Monday, December 12th. Finally, Susquehanna raised their target price on shares of L3Harris Technologies from $265.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, January 30th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $259.46.

L3Harris Technologies Profile

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L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the 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.