Robeco Institutional Asset Management B.V. cut its holdings in shares of L3Harris (NYSE:LHX) by 12.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,979 shares of the company’s stock after selling 7,963 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in L3Harris were worth $9,499,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of L3Harris by 2.1% during the second quarter. SG Americas Securities LLC now owns 17,120 shares of the company’s stock valued at $2,905,000 after buying an additional 353 shares during the period. Empirical Finance LLC increased its stake in shares of L3Harris by 12.6% during the second quarter. Empirical Finance LLC now owns 1,558 shares of the company’s stock valued at $264,000 after buying an additional 174 shares during the period. Buckingham Capital Management Inc. increased its stake in shares of L3Harris by 258.5% during the second quarter. Buckingham Capital Management Inc. now owns 24,817 shares of the company’s stock valued at $4,211,000 after buying an additional 17,895 shares during the period. Capital Investment Advisors LLC purchased a new position in shares of L3Harris during the second quarter valued at approximately $528,000. Finally, Belpointe Asset Management LLC increased its stake in shares of L3Harris by 31.3% during the second quarter. Belpointe Asset Management LLC now owns 1,207 shares of the company’s stock valued at $205,000 after buying an additional 288 shares during the period. 84.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:LHX opened at $171.24 on Friday. The company has a market cap of $37.27 billion, a P/E ratio of 24.96 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.21. L3Harris has a 1 year low of $142.01 and a 1 year high of $230.99. The stock’s fifty day moving average price is $178.78 and its 200-day moving average price is $193.37.
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. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.60 billion. L3Harris had a return on equity of 13.20% and a net margin of 8.30%. L3Harris’s revenue for the quarter was up 167.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.32 earnings per share. On average, sell-side analysts anticipate that L3Harris will post 11.28 earnings per share for the current year.
Several equities research analysts recently weighed in on LHX shares. Cowen restated a “buy” rating and set a $240.00 price target on shares of L3Harris in a research report on Tuesday, May 5th. Royal Bank of Canada started coverage on L3Harris in a research report on Wednesday, May 20th. They set an “outperform” rating and a $219.00 price target on the stock. Credit Suisse Group dropped their price target on L3Harris from $226.00 to $205.00 and set an “outperform” rating on the stock in a research report on Monday, July 20th. SunTrust Banks dropped their price target on L3Harris from $265.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Finally, UBS Group dropped their price target on L3Harris from $235.00 to $226.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. L3Harris has an average rating of “Buy” and a consensus price target of $240.05.
In related news, Director Lewis Kramer sold 6,000 shares of the company’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 completion of the sale, the director now owns 13,278 shares in the company, valued at $2,589,210. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas A. Corcoran sold 1,500 shares of the company’s 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 currently owned by corporate insiders.
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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