Schonfeld Strategic Advisors LLC Acquires 119,995 Shares of L3Harris (NYSE:LHX)

Schonfeld Strategic Advisors LLC grew its holdings in L3Harris (NYSE:LHX) by 855.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 134,030 shares of the company’s stock after purchasing an additional 119,995 shares during the quarter. L3Harris makes up 0.6% of Schonfeld Strategic Advisors LLC’s portfolio, making the stock its 22nd biggest position. Schonfeld Strategic Advisors LLC owned 0.06% of L3Harris worth $22,741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Castle Hook Partners LP purchased a new stake in L3Harris during the first quarter worth $15,225,000. Raymond James Trust N.A. raised its position in shares of L3Harris by 29.0% in the second quarter. Raymond James Trust N.A. now owns 10,866 shares of the company’s stock valued at $1,843,000 after buying an additional 2,441 shares during the last quarter. Kistler Tiffany Companies LLC raised its position in shares of L3Harris by 160.1% in the second quarter. Kistler Tiffany Companies LLC now owns 398 shares of the company’s stock valued at $68,000 after buying an additional 245 shares during the last quarter. Cigna Investments Inc. New raised its position in shares of L3Harris by 12.3% in the second quarter. Cigna Investments Inc. New now owns 7,072 shares of the company’s stock valued at $1,201,000 after buying an additional 777 shares during the last quarter. Finally, Princeton Portfolio Strategies Group LLC raised its position in shares of L3Harris by 3.8% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 41,411 shares of the company’s stock valued at $7,459,000 after buying an additional 1,524 shares during the last quarter. Hedge funds and other institutional investors own 82.28% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Credit Suisse Group reduced their target price on shares of L3Harris from $226.00 to $205.00 and set an “outperform” rating for the company in a research report on Monday, July 20th. Benchmark cut their price objective on shares of L3Harris from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Cowen began coverage on shares of L3Harris in a research report on Sunday, August 2nd. They set a “buy” rating and a $240.00 price objective for the company. Citigroup cut their price objective on shares of L3Harris from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, Morgan Stanley began coverage on shares of L3Harris in a research report on Tuesday, September 8th. They set an “overweight” rating and a $248.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. L3Harris has a consensus rating of “Buy” and an average target price of $240.63.

Shares of L3Harris stock traded up $3.40 on Wednesday, hitting $182.18. The company’s stock had a trading volume of 1,344,293 shares, compared to its average volume of 1,587,455. L3Harris has a 52-week low of $142.01 and a 52-week high of $230.99. The company has a quick ratio of 1.32, a current ratio of 1.51 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average price of $178.07 and a 200-day moving average price of $181.94. The company has a market capitalization of $39.39 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69.

L3Harris (NYSE:LHX) last released its quarterly earnings data on Friday, July 31st. The company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.61 by $0.22. L3Harris had a net margin of 7.21% and a return on equity of 10.92%. The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.48 billion. During the same period in the previous year, the firm earned $2.51 EPS. The business’s revenue for the quarter was up 138.3% compared to the same quarter last year. As a group, analysts expect that L3Harris will post 11.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Wednesday, September 9th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.87%. The ex-dividend date is Tuesday, September 8th. L3Harris’s payout ratio is 33.73%.

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.

Recommended Story: What is a Tariff?

Institutional Ownership by Quarter for L3Harris (NYSE:LHX)

Receive News & Ratings for L3Harris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris and related companies with MarketBeat.com's FREE daily email newsletter.