AE Wealth Management LLC Has $945,000 Position in L3Harris Technologies Inc (NYSE:LHX)

Key Points

• AE Wealth Management LLC increased its holdings in L3Harris Technologies by 66.6%, owning 4,516 shares valued at approximately $945,000 at the end of the most recent reporting period.
• L3Harris Technologies reported $2.78 EPS for the last quarter, exceeding estimates, with a revenue of $5.43 billion which is a 2.4% increase from the previous year.
• The company also announced a quarterly dividend of $1.20 per share, representing an annualized rate of $4.80 and a dividend yield of 1.78%.

AE Wealth Management LLC increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 66.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,516 shares of the company's stock after buying an additional 1,806 shares during the quarter. AE Wealth Management LLC's holdings in L3Harris Technologies were worth $945,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of L3Harris Technologies by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock valued at $1,004,418,000 after acquiring an additional 53,787 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of L3Harris Technologies by 15.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock valued at $486,898,000 after buying an additional 311,886 shares during the last quarter. FMR LLC increased its stake in shares of L3Harris Technologies by 11.5% in the fourth quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after buying an additional 233,968 shares during the period. Invesco Ltd. raised its position in shares of L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after acquiring an additional 522,861 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of L3Harris Technologies by 7.7% in the fourth quarter. Northern Trust Corp now owns 1,631,041 shares of the company's stock worth $342,975,000 after acquiring an additional 116,266 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 1.5%

NYSE LHX opened at $269.07 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $280.03. The business has a 50 day moving average price of $251.14 and a 200-day moving average price of $225.88. The company has a market cap of $50.30 billion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 2.09 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the firm posted $3.24 EPS. L3Harris Technologies's revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's payout ratio is presently 53.63%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. The trade was a 7.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the sale, the chief executive officer directly owned 145,572 shares of the company's stock, valued at $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Jefferies Financial Group decreased their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Susquehanna increased their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday. Robert W. Baird upped their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Citigroup increased their price target on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $276.53.

L3Harris Technologies Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.

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