IBM Retirement Fund trimmed its holdings in L3Harris (NYSE:LHX) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,986 shares of the company’s stock after selling 84 shares during the quarter. IBM Retirement Fund’s holdings in L3Harris were worth $789,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of LHX. State Street Corp bought a new stake in shares of L3Harris in the third quarter valued at approximately $1,949,311,000. Massachusetts Financial Services Co. MA bought a new stake in shares of L3Harris in the third quarter valued at approximately $446,171,000. California Public Employees Retirement System bought a new stake in shares of L3Harris in the third quarter valued at approximately $371,059,000. Millennium Management LLC bought a new stake in shares of L3Harris in the third quarter valued at approximately $287,551,000. Finally, Boston Partners bought a new stake in shares of L3Harris in the third quarter valued at approximately $274,375,000. 82.59% of the stock is owned by institutional investors.
Shares of NYSE LHX opened at $212.73 on Wednesday. The company has a fifty day moving average price of $200.11. The company has a quick ratio of 1.21, a current ratio of 1.49 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $47.08 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.86. L3Harris has a one year low of $132.09 and a one year high of $217.31.
L3Harris (NYSE:LHX) last issued its earnings results on Wednesday, October 30th. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.19. The business had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.43 billion. L3Harris had a return on equity of 16.42% and a net margin of 12.02%. The firm’s revenue was up 187.4% compared to the same quarter last year. On average, equities analysts anticipate that L3Harris will post 10 EPS for the current year.
Several equities research analysts have recently weighed in on the company. UBS Group set a $225.00 price objective on L3Harris and gave the company a “hold” rating in a research report on Friday, November 1st. SunTrust Banks increased their price objective on L3Harris to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their price objective on L3Harris from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Cowen reissued a “buy” rating and issued a $210.00 price objective on shares of L3Harris in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein assumed coverage on L3Harris in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $247.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $236.62.
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.
