Moisand Fitzgerald Tamayo LLC boosted its stake in shares of L3Harris (NYSE:LHX) by 3,089.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,786 shares of the company’s stock after purchasing an additional 1,730 shares during the quarter. Moisand Fitzgerald Tamayo LLC’s holdings in L3Harris were worth $353,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in LHX. Bernardo Wealth Planning LLC acquired a new stake in L3Harris in the 2nd quarter valued at about $246,000. Marshall Wace North America L.P. bought a new stake in shares of L3Harris during the second quarter worth $70,474,000. Marshall Wace LLP bought a new stake in shares of L3Harris during the second quarter worth $33,411,000. Princeton Global Asset Management LLC bought a new stake in shares of L3Harris during the second quarter worth $815,000. Finally, Private Trust Co. NA bought a new stake in shares of L3Harris during the third quarter worth $1,842,000. 82.58% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. SunTrust Banks boosted their target price on L3Harris to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. UBS Group raised their target price on L3Harris from $225.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday. ValuEngine upgraded L3Harris from a “strong sell” rating to a “sell” rating in a research report on Friday, December 13th. Barclays restated a “buy” rating and set a $270.00 target price on shares of L3Harris in a research report on Wednesday, October 9th. Finally, Zacks Investment Research raised L3Harris from a “hold” rating to a “buy” rating and set a $219.00 price target for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $237.34.
L3Harris (NYSE:LHX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $2.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.39 by $0.19. The company had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.43 billion. L3Harris had a net margin of 12.02% and a return on equity of 16.42%. The company’s revenue for the quarter was up 187.4% compared to the same quarter last year. On average, equities research analysts forecast that L3Harris will post 9.98 EPS for the current fiscal year.
In other L3Harris news, SVP Scott T. Mikuen sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $210.51, for a total value of $3,157,650.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.
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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