StrongBox Wealth LLC Acquires 177 Shares of L3Harris (NYSE:LHX)

StrongBox Wealth LLC boosted its holdings in shares of L3Harris (NYSE:LHX) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,282 shares of the company’s stock after purchasing an additional 177 shares during the quarter. StrongBox Wealth LLC’s holdings in L3Harris were worth $557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Castle Hook Partners LP bought a new stake in L3Harris during the 1st quarter valued at approximately $15,225,000. Raymond James Trust N.A. increased its stake in L3Harris by 29.0% in the 2nd quarter. Raymond James Trust N.A. now owns 10,866 shares of the company’s stock worth $1,843,000 after acquiring an additional 2,441 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in L3Harris by 36.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 63,942 shares of the company’s stock worth $11,517,000 after acquiring an additional 17,001 shares during the last quarter. Princeton Portfolio Strategies Group LLC increased its stake in L3Harris by 3.8% in the 1st quarter. Princeton Portfolio Strategies Group LLC now owns 41,411 shares of the company’s stock worth $7,459,000 after acquiring an additional 1,524 shares during the last quarter. Finally, Balentine LLC bought a new stake in L3Harris in the 1st quarter worth approximately $92,000. 84.75% of the stock is currently owned by institutional investors.

LHX traded down $4.90 during trading hours on Friday, reaching $168.33. 2,305,667 shares of the company’s stock traded hands, compared to its average volume of 1,235,697. The firm has a 50-day moving average price of $174.02 and a 200 day moving average price of $191.96. L3Harris has a 52-week low of $142.01 and a 52-week high of $230.99. The company has a quick ratio of 1.21, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $36.34 billion, a PE ratio of 24.54 and a beta of 0.74.

L3Harris (NYSE:LHX) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.61 by $0.22. L3Harris had a return on equity of 13.20% and a net margin of 8.30%. The company had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the previous year, the business earned $2.51 EPS. L3Harris’s revenue was up 138.3% compared to the same quarter last year. Equities analysts predict that L3Harris will post 11.28 EPS for the current fiscal year.

A number of research firms have issued reports on LHX. Credit Suisse Group reduced their price objective on L3Harris from $226.00 to $205.00 and set an “outperform” rating on the stock in a research note on Monday, July 20th. Bank of America began coverage on L3Harris in a research note on Thursday, April 16th. They issued a “buy” rating and a $250.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and issued a $260.00 price objective (down previously from $280.00) on shares of L3Harris in a research note on Wednesday, May 13th. They noted that the move was a valuation call. Seaport Global Securities assumed coverage on L3Harris in a research note on Tuesday, May 19th. They issued a “buy” rating and a $225.00 price objective on the stock. Finally, Cowen reiterated a “buy” rating and issued a $240.00 target price on shares of L3Harris in a report on Tuesday, May 5th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $240.05.

In other L3Harris news, Director Lewis Kramer sold 6,000 shares of L3Harris stock in a transaction on Friday, May 29th. The stock was sold at an average price of $195.00, for a total transaction of $1,170,000.00. Following the completion of the sale, the director now directly owns 13,278 shares of the company’s stock, valued at approximately $2,589,210. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas A. Corcoran sold 1,500 shares of L3Harris stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $206.17, for a total value of $309,255.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by 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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