L3Harris Technologies Inc $LHX Shares Newly Bought by Guardian Wealth Management Inc.

Key Points

• Guardian Wealth Management opened a new L3Harris position, buying 22,361 shares worth about $5.3 million in the third quarter. The stock represents 2.7% of its portfolio and is its 12th-largest holding.
• L3Harris beat quarterly earnings and revenue estimates, reporting EPS of $3.28 versus $2.95 expected and revenue of $6.07 billion, up 7.1% year over year.
• The company announced a quarterly dividend of $1.25 per share, equivalent to $5 annually and a 1.9% yield; analysts’ average rating was “Moderate Buy,” with a $345.60 average price target.

Guardian Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 22,361 shares of the company's stock, valued at approximately $5,295,000. L3Harris Technologies accounts for 2.7% of Guardian Wealth Management Inc.'s holdings, making the stock its 12th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Concurrent Investment Advisors LLC increased its holdings in shares of L3Harris Technologies by 29.4% in the second quarter. Concurrent Investment Advisors LLC now owns 53,138 shares of the company's stock worth $15,441,000 after purchasing an additional 12,059 shares during the period. Community Trust & Investment Co. boosted its stake in L3Harris Technologies by 8.2% during the third quarter. Community Trust & Investment Co. now owns 63,777 shares of the company's stock valued at $15,101,000 after buying an additional 4,828 shares during the period. Meeder Advisory Services Inc. bought a new stake in L3Harris Technologies during the second quarter valued at $1,397,000. Swiss National Bank boosted its stake in L3Harris Technologies by 7.1% during the first quarter. Swiss National Bank now owns 549,029 shares of the company's stock valued at $189,497,000 after buying an additional 36,320 shares during the period. Finally, ASK Capital Investment Managers LLC purchased a new position in L3Harris Technologies during the third quarter worth about $1,839,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 6.5%

NYSE LHX opened at $259.61 on Thursday. The stock's 50-day simple moving average is $250.27 and its two-hundred day simple moving average is $304.02. L3Harris Technologies Inc has a twelve month low of $232.34 and a twelve month high of $379.23. The company has a quick ratio of 1.05, a current ratio of 1.20 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $48.34 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.71 and a beta of 0.47.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $3.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.95 by $0.33. The firm had revenue of $6.07 billion during the quarter, compared to analysts' expectations of $5.92 billion. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.70 EPS. Research analysts forecast that L3Harris Technologies Inc will post 11.98 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a $1.25 dividend. The ex-dividend date is Friday, December 4th. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. L3Harris Technologies's payout ratio is presently 46.64%.

Wall Street Analyst Weigh In

LHX has been the topic of several recent analyst reports. Susquehanna lowered their price target on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a report on Friday, July 31st. The Goldman Sachs Group cut their price objective on L3Harris Technologies from $405.00 to $361.00 and set a "buy" rating for the company in a report on Monday, October 12th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Sunday. BNP Paribas Exane decreased their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a research report on Thursday, July 30th. Finally, Jefferies Financial Group downgraded shares of L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 target price on the stock. in a research note on Wednesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and an average price target of $345.60.

L3Harris Technologies Profile

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.