State Board of Administration of Florida Retirement System lessened its holdings in shares of L3Harris (NYSE:LHX) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 301,176 shares of the company’s stock after selling 4,377 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.14% of L3Harris worth $51,101,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of LHX. Winslow Evans & Crocker Inc. raised its stake in L3Harris by 116.6% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 706 shares of the company’s stock worth $130,000 after buying an additional 380 shares during the period. Csenge Advisory Group raised its stake in L3Harris by 64.6% during the 1st quarter. Csenge Advisory Group now owns 3,222 shares of the company’s stock worth $580,000 after buying an additional 1,264 shares during the period. Centaurus Financial Inc. raised its stake in L3Harris by 77.9% during the 1st quarter. Centaurus Financial Inc. now owns 1,142 shares of the company’s stock worth $206,000 after buying an additional 500 shares during the period. Railway Pension Investments Ltd raised its stake in L3Harris by 12.7% during the 1st quarter. Railway Pension Investments Ltd now owns 17,700 shares of the company’s stock worth $3,188,000 after buying an additional 2,000 shares during the period. Finally, Covenant Asset Management LLC raised its stake in L3Harris by 8.4% during the 1st quarter. Covenant Asset Management LLC now owns 7,511 shares of the company’s stock worth $1,353,000 after buying an additional 583 shares during the period. 84.75% of the stock is currently owned by institutional investors and hedge funds.
NYSE:LHX traded down $2.05 during mid-day trading on Thursday, hitting $179.13. The stock had a trading volume of 12,414 shares, compared to its average volume of 1,446,245. L3Harris has a twelve month low of $142.01 and a twelve month high of $230.99. The stock has a market cap of $39.13 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 1.11 and a beta of 0.71. The company’s 50 day simple moving average is $171.51 and its 200 day simple moving average is $187.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.51.
L3Harris (NYSE:LHX) last issued its earnings results on Friday, July 31st. The company reported $2.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.61 by $0.22. L3Harris had a net margin of 7.21% and a return on equity of 10.92%. The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same period last year, the business posted $2.51 EPS. L3Harris’s revenue was up 138.3% on a year-over-year basis. As a group, equities analysts forecast that L3Harris will post 11.39 earnings per share for the current year.
In other L3Harris news, Director Thomas A. Corcoran sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $206.17, for a total transaction of $309,255.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lewis Kramer sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $195.00, for a total transaction of $1,170,000.00. Following the sale, the director now owns 13,278 shares of the company’s stock, valued at $2,589,210. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
A number of research firms have issued reports on LHX. ValuEngine cut L3Harris from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. UBS Group lowered their target price on L3Harris from $235.00 to $226.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Seaport Global Securities began coverage on L3Harris in a report on Tuesday, May 19th. They set a “buy” rating and a $225.00 target price for the company. Sanford C. Bernstein increased their target price on L3Harris from $243.00 to $258.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. They noted that the move was a valuation call. Finally, Cowen began coverage on L3Harris in a report on Sunday, August 2nd. They set a “buy” rating and a $240.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $240.84.
L3Harris Company Profile
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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