MERIAN GLOBAL INVESTORS UK Ltd Purchases 131,944 Shares of L3Harris (NYSE:LHX)

MERIAN GLOBAL INVESTORS UK Ltd lifted its position in L3Harris (NYSE:LHX) by 206.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 195,984 shares of the company’s stock after buying an additional 131,944 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in L3Harris were worth $38,779,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Squar Milner Financial Services LLC increased its holdings in L3Harris by 500.0% during the 3rd quarter. Squar Milner Financial Services LLC now owns 120 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Aigen Investment Management LP acquired a new stake in L3Harris in the 4th quarter valued at about $25,000. Corbenic Partners LLC acquired a new stake in L3Harris in the 4th quarter valued at about $26,000. D Orazio & Associates Inc. acquired a new stake in L3Harris in the 3rd quarter valued at about $27,000. Finally, Trustcore Financial Services LLC acquired a new stake in L3Harris in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 83.86% of the company’s stock.

LHX stock traded up $0.18 during mid-day trading on Tuesday, hitting $228.73. 910,149 shares of the company were exchanged, compared to its average volume of 1,320,911. The business has a 50 day simple moving average of $218.19 and a 200-day simple moving average of $208.11. 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 stock has a market capitalization of $50.53 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 2.46 and a beta of 0.81. L3Harris has a 1-year low of $156.90 and a 1-year high of $230.99.

L3Harris (NYSE:LHX) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.07. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.82 billion. L3Harris had a net margin of 10.37% and a return on equity of 17.71%. The business’s revenue for the quarter was up 190.0% compared to the same quarter last year. During the same period last year, the business posted $1.96 earnings per share. Equities research analysts expect that L3Harris will post 11.61 earnings per share for the current year.

In other news, SVP Scott T. Mikuen sold 16,820 shares of L3Harris stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $220.00, for a total value of $3,700,400.00. Following the completion of the sale, the senior vice president now directly owns 81,527 shares in the company, valued at $17,935,940. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 15,000 shares of L3Harris stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $210.51, for a total transaction of $3,157,650.00. The disclosure for this sale can be found here. Insiders have sold 120,530 shares of company stock valued at $27,148,116 over the last 90 days. Company insiders own 1.70% of the company’s stock.

Several brokerages recently issued reports on LHX. Cowen reiterated a “buy” rating and issued a $240.00 target price on shares of L3Harris in a research note on Wednesday, February 12th. UBS Group raised their target price on shares of L3Harris from $225.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Argus raised their target price on shares of L3Harris from $230.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Sanford C. Bernstein began coverage on shares of L3Harris in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $247.00 target price for the company. Finally, Barclays reiterated a “buy” rating and issued a $290.00 target price on shares of L3Harris in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $245.83.

L3Harris 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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