Heritage Investors Management Corp Acquires Shares of 11,344 L3Harris (NYSE:LHX)

Heritage Investors Management Corp acquired a new stake in L3Harris (NYSE:LHX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,344 shares of the company’s stock, valued at approximately $2,367,000.

A number of other large investors have also added to or reduced their stakes in the business. Carroll Financial Associates Inc. raised its stake in L3Harris by 19.9% in the third quarter. Carroll Financial Associates Inc. now owns 494 shares of the company’s stock valued at $103,000 after buying an additional 82 shares during the period. Versant Capital Management Inc raised its stake in L3Harris by 246.5% in the third quarter. Versant Capital Management Inc now owns 149 shares of the company’s stock valued at $31,000 after buying an additional 106 shares during the period. Sonora Investment Management LLC bought a new stake in L3Harris in the third quarter valued at approximately $26,000. Wealthcare Capital Management LLC bought a new stake in L3Harris in the third quarter valued at approximately $26,000. Finally, Lindbrook Capital LLC bought a new position in shares of L3Harris during the second quarter worth approximately $25,000. Hedge funds and other institutional investors own 97.80% of the company’s stock.

A number of equities analysts have recently weighed in on LHX shares. Credit Suisse Group increased their target price on L3Harris from $220.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Goldman Sachs Group started coverage on L3Harris in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 target price on the stock. Barclays reiterated a “buy” rating and set a $270.00 target price on shares of L3Harris in a research note on Wednesday, October 9th. Buckingham Research increased their target price on L3Harris from $197.00 to $237.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, UBS Group increased their target price on L3Harris from $200.00 to $210.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. L3Harris has a consensus rating of “Buy” and an average target price of $237.25.

In related news, Director Thomas A. Dattilo purchased 1,000 shares of L3Harris stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of $200.80 per share, with a total value of $200,800.00. Also, insider Dana A. Mehnert sold 73,150 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $209.42, for a total value of $15,319,073.00. The disclosure for this sale can be found here. In the last three months, insiders have purchased 11,800 shares of company stock worth $2,402,722 and have sold 511,068 shares worth $108,033,097. Corporate insiders own 1.70% of the company’s stock.

Shares of NYSE LHX opened at $198.08 on Friday. The company has a market capitalization of $44.72 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 2.59 and a beta of 0.92. L3Harris has a 1-year low of $123.24 and a 1-year high of $217.31. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.98 and a current ratio of 1.14. The business’s 50 day moving average price is $209.75.

L3Harris (NYSE:LHX) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.14. The business had revenue of $1.87 billion for 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 quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 earnings per share. On average, research analysts predict that L3Harris will post 9.67 earnings per share for the current fiscal year.

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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