Perigon Wealth Management LLC trimmed its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,243 shares of the company’s stock after selling 185 shares during the quarter. Perigon Wealth Management LLC’s holdings in L3Harris Technologies were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of L3Harris Technologies by 1.8% in the third quarter. Vanguard Group Inc. now owns 17,282,623 shares of the company’s stock worth $3,591,848,000 after buying an additional 302,279 shares during the period. BlackRock Inc. raised its stake in shares of L3Harris Technologies by 15.1% during the third quarter. BlackRock Inc. now owns 14,314,799 shares of the company’s stock valued at $2,975,043,000 after acquiring an additional 1,875,236 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of L3Harris Technologies by 17.4% during the third quarter. Price T Rowe Associates Inc. MD now owns 9,758,276 shares of the company’s stock worth $2,028,151,000 after purchasing an additional 1,448,364 shares during the period. FMR LLC grew its stake in shares of L3Harris Technologies by 6.4% in the second quarter. FMR LLC now owns 2,214,357 shares of the company’s stock worth $535,211,000 after purchasing an additional 134,085 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of L3Harris Technologies by 0.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,813,445 shares of the company’s stock worth $438,309,000 after purchasing an additional 10,947 shares during the last quarter. Institutional investors own 82.18% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on LHX shares. Morgan Stanley dropped their price objective on L3Harris Technologies from $278.00 to $264.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Susquehanna raised their price target on L3Harris Technologies from $265.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, January 30th. Cowen reduced 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 report on Thursday, January 12th. StockNews.com began coverage on shares of L3Harris Technologies in a research report on Thursday. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Monday, December 12th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $259.46.
L3Harris Technologies Trading Down 3.5 %
L3Harris Technologies (NYSE:LHX – Get Rating) last announced its quarterly earnings results on Friday, January 27th. The company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.06. The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.36 billion. L3Harris Technologies had a net margin of 6.22% and a return on equity of 13.20%. L3Harris Technologies’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.30 EPS. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 12.32 earnings per share for the current fiscal year.
L3Harris Technologies Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be given a dividend of $1.14 per share. The ex-dividend date is Thursday, March 9th. This represents a $4.56 annualized dividend and a dividend yield of 2.34%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.12. L3Harris Technologies’s dividend payout ratio (DPR) is 83.36%.
About L3Harris Technologies
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.
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