AE Wealth Management LLC Has $3.77 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Posted by on Apr 19th, 2023

AE Wealth Management LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) by 22.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,121 shares of the company’s stock after purchasing an additional 3,371 shares during the period. AE Wealth Management LLC’s holdings in L3Harris Technologies were worth $3,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Concord Wealth Partners acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $25,000. Centerpoint Advisors LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth about $26,000. Cowa LLC bought a new stake in shares of L3Harris Technologies in the 1st quarter valued at about $26,000. General Partner Inc. acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $30,000. Finally, Eagle Bay Advisors LLC bought a new position in L3Harris Technologies during the 2nd quarter worth approximately $30,000. Institutional investors own 82.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LHX. Wells Fargo & Company upped their target price on shares of L3Harris Technologies from $219.00 to $230.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 1st. Truist Financial lowered their price objective on shares of L3Harris Technologies from $264.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, January 30th. Susquehanna lifted their target price on L3Harris Technologies from $265.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, January 30th. StockNews.com started coverage on L3Harris Technologies in a report on Thursday, March 16th. They issued a “buy” rating for the company. Finally, Morgan Stanley cut their price objective on L3Harris Technologies from $278.00 to $264.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Hold” and an average target price of $259.46.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $204.43 on Wednesday. L3Harris Technologies, Inc. has a 12 month low of $189.73 and a 12 month high of $264.71. The company’s fifty day simple moving average is $204.19 and its 200-day simple moving average is $213.62. The firm has a market cap of $38.83 billion, a PE ratio of 37.37, a P/E/G ratio of 6.32 and a beta of 0.70. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.33.

L3Harris Technologies (NYSE:LHX – Get Rating) last issued its quarterly earnings results on Friday, January 27th. The company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.21 by $0.06. The firm 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%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.30 EPS. Equities research analysts expect that L3Harris Technologies, Inc. will post 12.3 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, March 10th were paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 2.23%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.12. The ex-dividend date was Thursday, March 9th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 83.36%.

L3Harris Technologies Company 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.

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

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