StrongBox Wealth LLC Raises Holdings in L3Harris (NYSE:LHX)

Share on StockTwits

StrongBox Wealth LLC lifted its stake in L3Harris (NYSE:LHX) by 5.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,282 shares of the company’s stock after buying an additional 177 shares during the quarter. StrongBox Wealth LLC’s holdings in L3Harris were worth $557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Capital Research Global Investors boosted its stake in shares of L3Harris by 17.9% in the first quarter. Capital Research Global Investors now owns 8,224,059 shares of the company’s stock worth $1,481,318,000 after buying an additional 1,249,600 shares during the last quarter. Janus Henderson Group PLC boosted its position in L3Harris by 3.3% during the first quarter. Janus Henderson Group PLC now owns 7,098,677 shares of the company’s stock worth $1,278,625,000 after purchasing an additional 224,562 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of L3Harris by 1.6% during the first quarter. Wells Fargo & Company MN now owns 5,040,105 shares of the company’s stock valued at $907,824,000 after acquiring an additional 80,741 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of L3Harris by 14.2% during the first quarter. Nuveen Asset Management LLC now owns 3,471,357 shares of the company’s stock valued at $625,262,000 after acquiring an additional 430,984 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of L3Harris by 186.3% during the first quarter. Capital International Investors now owns 3,102,176 shares of the company’s stock valued at $558,764,000 after acquiring an additional 2,018,719 shares during the last quarter. Hedge funds and other institutional investors own 84.75% of the company’s stock.

In related news, Director Lewis Kramer sold 6,000 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $195.00, for a total value of $1,170,000.00. Following the transaction, the director now owns 13,278 shares in the company, valued at approximately $2,589,210. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas A. Corcoran sold 1,500 shares of the business’s stock in a transaction dated 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. Insiders own 1.40% of the company’s stock.

LHX has been the subject of several analyst reports. Cowen reiterated a “buy” rating and issued a $240.00 price objective on shares of L3Harris in a research report on Tuesday, May 5th. 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 target on the stock. Royal Bank of Canada assumed coverage on L3Harris in a research note on Wednesday, May 20th. They issued an “outperform” rating and a $219.00 price target on the stock. Morgan Stanley raised their price target on L3Harris from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. Finally, Bank of America assumed coverage on L3Harris in a research note on Thursday, April 16th. They issued a “buy” rating and a $250.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $240.05.

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

L3Harris (NYSE:LHX) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.61 by $0.22. The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.48 billion. L3Harris had a return on equity of 13.20% and a net margin of 8.30%. The firm’s revenue for the quarter was up 138.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.51 EPS. Sell-side analysts anticipate that L3Harris will post 11.28 earnings per share for the current year.

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: Market Timing – The Benefits and the Danger

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris (NYSE:LHX).

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.