Vigilant Capital Management LLC bought a new position in L3Harris (NYSE:LHX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 61,486 shares of the company’s stock, valued at approximately $12,166,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Squar Milner Financial Services LLC boosted its position in shares of L3Harris by 500.0% during the 3rd quarter. Squar Milner Financial Services LLC now owns 120 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Sonora Investment Management LLC bought a new stake in shares of L3Harris in the 3rd quarter worth approximately $26,000. Wealthcare Capital Management LLC bought a new stake in shares of L3Harris in the 3rd quarter worth approximately $26,000. Corbenic Partners LLC acquired a new stake in L3Harris during the fourth quarter valued at approximately $26,000. Finally, D Orazio & Associates Inc. acquired a new stake in L3Harris during the third quarter valued at approximately $27,000. 82.58% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Scott T. Mikuen sold 15,000 shares of the stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.
L3Harris (NYSE:LHX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.19. L3Harris had a net margin of 12.02% and a return on equity of 16.42%. The firm had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.43 billion. The business’s quarterly revenue was up 187.4% compared to the same quarter last year. As a group, analysts forecast that L3Harris will post 9.98 earnings per share for the current year.
Several research firms have issued reports on LHX. Alembic Global Advisors began coverage on shares of L3Harris in a research report on Monday, November 18th. They issued an “overweight” rating and a $235.00 price target on the stock. Barclays reiterated a “buy” rating and set a $270.00 price objective on shares of L3Harris in a research report on Wednesday, October 9th. Zacks Investment Research upgraded L3Harris from a “hold” rating to a “buy” rating and set a $219.00 price objective for the company in a research report on Friday, November 1st. ValuEngine raised L3Harris from a “strong sell” rating to a “sell” rating in a research note on Friday, December 13th. Finally, SunTrust Banks lifted their target price on L3Harris to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $237.34.
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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