SG Americas Securities LLC Increases Position in L3Harris (NYSE:LHX)

SG Americas Securities LLC increased its stake in shares of L3Harris (NYSE:LHX) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,120 shares of the company’s stock after buying an additional 353 shares during the quarter. SG Americas Securities LLC’s holdings in L3Harris were worth $2,905,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Empirical Finance LLC lifted its holdings in shares of L3Harris by 12.6% during the second quarter. Empirical Finance LLC now owns 1,558 shares of the company’s stock worth $264,000 after purchasing an additional 174 shares during the period. Buckingham Capital Management Inc. raised its position in L3Harris by 258.5% during the 2nd quarter. Buckingham Capital Management Inc. now owns 24,817 shares of the company’s stock worth $4,211,000 after buying an additional 17,895 shares during the last quarter. Capital Investment Advisors LLC acquired a new stake in shares of L3Harris in the 2nd quarter worth $528,000. Belpointe Asset Management LLC boosted its holdings in shares of L3Harris by 31.3% in the second quarter. Belpointe Asset Management LLC now owns 1,207 shares of the company’s stock valued at $205,000 after acquiring an additional 288 shares in the last quarter. Finally, Stanley Laman Group Ltd. increased its stake in shares of L3Harris by 2.7% during the second quarter. Stanley Laman Group Ltd. now owns 35,432 shares of the company’s stock worth $6,012,000 after acquiring an additional 924 shares during the period. Hedge funds and other institutional investors own 84.75% of the company’s stock.

In other news, Director Lewis Kramer sold 6,000 shares of the firm’s stock in a transaction 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 in the company, valued at $2,589,210. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Corcoran sold 1,500 shares of L3Harris stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $206.17, for a total value of $309,255.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

LHX has been the topic of several recent analyst reports. Bank of America started coverage on L3Harris in a research report on Thursday, April 16th. They set a “buy” rating and a $250.00 target price on the stock. Morgan Stanley raised their target price on L3Harris from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. ValuEngine upgraded shares of L3Harris from a “sell” rating to a “hold” rating in a research report on Thursday, July 9th. UBS Group cut their price target on shares of L3Harris from $235.00 to $226.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Finally, SunTrust Banks reduced their price objective on shares of L3Harris from $265.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $240.05.

L3Harris stock opened at $172.67 on Friday. L3Harris has a fifty-two week low of $142.01 and a fifty-two week high of $230.99. The company has a market capitalization of $37.27 billion, a price-to-earnings ratio of 25.17 and a beta of 0.74. The stock has a fifty day moving average of $179.22 and a two-hundred day moving average of $193.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.21 and a current ratio of 1.41.

L3Harris (NYSE:LHX) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.19. L3Harris had a return on equity of 13.20% and a net margin of 8.30%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter last year, the company earned $2.32 earnings per share. The business’s revenue for the quarter was up 167.7% compared to the same quarter last year. On average, analysts forecast that L3Harris will post 11.28 EPS for the current fiscal year.

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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