AE Wealth Management LLC Acquires 3,017 Shares of L3Harris (NYSE:LHX)
AE Wealth Management LLC boosted its holdings in L3Harris (NYSE:LHX) by 19.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,141 shares of the company’s stock after buying an additional 3,017 shares during the quarter. AE Wealth Management LLC’s holdings in L3Harris were worth $3,268,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of LHX. Norges Bank bought a new position in L3Harris in the 4th quarter valued at approximately $406,936,000. Iridian Asset Management LLC CT bought a new position in L3Harris in the 4th quarter valued at approximately $152,639,000. Victory Capital Management Inc. raised its holdings in L3Harris by 159.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,026,027 shares of the company’s stock valued at $227,091,000 after buying an additional 629,868 shares during the last quarter. Ceredex Value Advisors LLC raised its holdings in L3Harris by 428.6% during the 4th quarter. Ceredex Value Advisors LLC now owns 735,326 shares of the company’s stock worth $145,499,000 after purchasing an additional 596,219 shares during the last quarter. Finally, Standard Life Aberdeen plc bought a new position in L3Harris during the 4th quarter worth approximately $96,828,000. Institutional investors and hedge funds own 84.91% of the company’s stock.
LHX opened at $176.78 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.21. The company has a market capitalization of $37.29 billion, a price-to-earnings ratio of 25.77 and a beta of 0.77. The firm’s fifty day moving average price is $186.98 and its two-hundred day moving average price is $199.86. L3Harris has a 1 year low of $142.01 and a 1 year high of $230.99.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Monday, June 1st. L3Harris’s dividend payout ratio is 33.73%.
Several research firms have issued reports on LHX. Cowen restated a “buy” rating and set a $240.00 price target on shares of L3Harris in a report on Tuesday, May 5th. Sanford C. Bernstein raised their price target on shares of L3Harris from $217.00 to $236.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Raymond James lifted their price objective on shares of L3Harris from $219.00 to $239.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Credit Suisse Group lowered their price objective on shares of L3Harris from $252.00 to $226.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Finally, Robert W. Baird lifted their price objective on shares of L3Harris from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. L3Harris currently has an average rating of “Buy” and a consensus target price of $241.59.
L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.
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