SevenBridge Financial Group LLC purchased a new stake in L3Harris (NYSE:LHX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,054 shares of the company’s stock, valued at approximately $429,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LHX. Marshall Wace North America L.P. purchased a new position in shares of L3Harris during the second quarter valued at approximately $70,474,000. Marshall Wace LLP acquired a new position in L3Harris during the second quarter worth approximately $33,411,000. Panagora Asset Management Inc. acquired a new position in L3Harris during the second quarter worth approximately $19,308,000. State of Alaska Department of Revenue acquired a new position in L3Harris during the third quarter worth approximately $17,933,000. Finally, Public Employees Retirement System of Ohio acquired a new position in L3Harris during the second quarter worth approximately $13,188,000. 97.80% of the stock is currently owned by institutional investors.

Several equities analysts recently commented on the stock. ValuEngine lowered shares of L3Harris from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Barclays reaffirmed a “buy” rating and set a $270.00 price target on shares of L3Harris in a research report on Wednesday. Vertical Research assumed coverage on shares of L3Harris in a research report on Wednesday, July 3rd. They set a “buy” rating and a $204.70 price target for the company. JPMorgan Chase & Co. upped their price target on shares of L3Harris from $210.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Credit Suisse Group upped their price target on shares of L3Harris from $220.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $237.25.

Shares of L3Harris stock traded down $0.93 during trading hours on Wednesday, hitting $208.32. The company’s stock had a trading volume of 19,618 shares, compared to its average volume of 1,204,554. L3Harris has a 1-year low of $123.24 and a 1-year high of $217.31. The firm has a fifty day moving average price of $210.69. The firm has a market cap of $46.24 billion, a P/E ratio of 25.12, a PEG ratio of 2.68 and a beta of 0.92. The company has a quick ratio of 0.98, a current ratio of 1.14 and a debt-to-equity ratio of 0.82.

L3Harris (NYSE:LHX) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.14. L3Harris had a net margin of 13.95% and a return on equity of 29.39%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts anticipate that L3Harris will post 9.68 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a $0.75 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. L3Harris’s dividend payout ratio (DPR) is presently 36.19%.

In other news, Director Thomas A. Dattilo bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $200.80 per share, for a total transaction of $200,800.00. Also, Director Thomas A. Corcoran sold 2,894 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $212.56, for a total transaction of $615,148.64. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 11,800 shares of company stock valued at $2,402,722 and sold 511,068 shares valued at $108,033,097. 1.70% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for L3Harris (NYSE:LHX)

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