Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of L3Harris (NYSE:LHX) by 29.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,051 shares of the company’s stock after selling 18,719 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in L3Harris were worth $8,914,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of L3Harris during the third quarter worth $9,344,000. Mackay Shields LLC acquired a new stake in shares of L3Harris during the third quarter worth $22,024,000. Squarepoint Ops LLC acquired a new stake in shares of L3Harris during the third quarter worth $12,474,000. Sciencast Management LP grew its stake in shares of L3Harris by 1.0% during the fourth quarter. Sciencast Management LP now owns 7,950 shares of the company’s stock worth $1,680,000 after purchasing an additional 75 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of L3Harris during the third quarter worth $490,000. 82.62% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the company. Alembic Global Advisors assumed coverage on L3Harris in a research note on Monday, November 18th. They set an “overweight” rating and a $235.00 price objective for the company. Cowen reaffirmed a “buy” rating and set a $210.00 price objective on shares of L3Harris in a research note on Wednesday, October 30th. SunTrust Banks lifted their price objective on L3Harris to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. UBS Group lifted their price objective on L3Harris from $225.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Finally, Sanford C. Bernstein assumed coverage on L3Harris in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $247.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $238.76.
In other L3Harris news, SVP Scott T. Mikuen sold 16,820 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $220.00, for a total value of $3,700,400.00. Following the completion of the transaction, the senior vice president now directly owns 81,527 shares of the company’s stock, valued at $17,935,940. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by insiders.
NYSE:LHX opened at $222.81 on Friday. L3Harris has a 1 year low of $139.42 and a 1 year high of $223.82. The company has a current ratio of 1.49, a quick ratio of 1.21 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $48.61 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.86. The firm has a 50-day simple moving average of $205.26.
L3Harris (NYSE:LHX) last posted its earnings results on Wednesday, October 30th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.19. L3Harris had a return on equity of 16.42% and a net margin of 12.02%. The firm had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.43 billion. The firm’s revenue was up 187.4% on a year-over-year basis. As a group, equities analysts expect that L3Harris will post 9.98 earnings per share for the current 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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