Gateway Investment Advisers LLC bought a new position in shares of L3Harris (NYSE:LHX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,562 shares of the company’s stock, valued at approximately $535,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of LHX. Lindbrook Capital LLC bought a new stake in L3Harris during the 2nd quarter worth approximately $25,000. Dougherty Wealth Advisers LLC acquired a new position in L3Harris during the 2nd quarter worth approximately $31,000. Allworth Financial LP acquired a new position in L3Harris during the 3rd quarter worth approximately $36,000. West Oak Capital LLC acquired a new position in L3Harris during the 3rd quarter worth approximately $40,000. Finally, Larson Financial Group LLC acquired a new position in L3Harris during the 3rd quarter worth approximately $47,000. 97.80% of the stock is owned by institutional investors and hedge funds.
LHX has been the subject of a number of recent research reports. Barclays reaffirmed a “buy” rating and set a $270.00 price target on shares of L3Harris in a research report on Wednesday, October 9th. Zacks Investment Research raised L3Harris from a “hold” rating to a “buy” rating and set a $236.00 price target for the company in a research report on Thursday, September 5th. Buckingham Research upped their price target on L3Harris from $197.00 to $237.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group upped their price target on L3Harris from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Goldman Sachs Group initiated coverage on L3Harris in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. L3Harris currently has a consensus rating of “Buy” and an average price target of $237.25.
L3Harris (NYSE:LHX) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.30 by $0.14. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $4.31 billion. L3Harris had a return on equity of 29.39% and a net margin of 13.95%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.78 EPS. As a group, equities analysts predict that L3Harris will post 9.67 EPS for the current fiscal year.
In other news, CEO William M. Brown sold 130,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $211.07, for a total value of $27,439,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lewis Hay III acquired 9,800 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $203.34 per share, with a total value of $1,992,732.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 11,800 shares of company stock valued at $2,402,722 and sold 511,068 shares valued at $108,033,097. Corporate 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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