Lehman & Derafelo Financial Resources LLC lessened its holdings in shares of L3Harris (NYSE:LHX) by 0.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 14,353 shares of the company’s stock after selling 65 shares during the period. L3Harris accounts for 0.9% of Lehman & Derafelo Financial Resources LLC’s portfolio, making the stock its 20th largest position. Lehman & Derafelo Financial Resources LLC’s holdings in L3Harris were worth $2,435,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LHX. NuWave Investment Management LLC bought a new position in shares of L3Harris during the first quarter worth $30,000. Sowell Financial Services LLC boosted its position in shares of L3Harris by 161.2% during the first quarter. Sowell Financial Services LLC now owns 175 shares of the company’s stock worth $32,000 after purchasing an additional 108 shares in the last quarter. Solstein Capital LLC boosted its position in shares of L3Harris by 90.4% during the first quarter. Solstein Capital LLC now owns 217 shares of the company’s stock worth $39,000 after purchasing an additional 103 shares in the last quarter. FDx Advisors Inc. boosted its position in shares of L3Harris by 1,144.7% during the first quarter. FDx Advisors Inc. now owns 40,005 shares of the company’s stock worth $39,000 after purchasing an additional 36,791 shares in the last quarter. Finally, Pathstone Family Office LLC boosted its position in shares of L3Harris by 66.9% during the first quarter. Pathstone Family Office LLC now owns 227 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares in the last quarter. 84.75% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Thomas A. Corcoran sold 1,500 shares of the company’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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lewis Kramer sold 6,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $195.00, for a total transaction of $1,170,000.00. Following the completion of the transaction, the director now owns 13,278 shares in the company, valued at approximately $2,589,210. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

A number of brokerages have recently weighed in on LHX. Sanford C. Bernstein lifted their price target on shares of L3Harris from $217.00 to $236.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Benchmark reissued a “buy” rating and set a $260.00 price target (down from $280.00) on shares of L3Harris in a research report on Wednesday, May 13th. They noted that the move was a valuation call. UBS Group reduced their price target on shares of L3Harris from $235.00 to $226.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Bank of America initiated coverage on shares of L3Harris in a research report on Thursday, April 16th. They issued a “buy” rating and a $250.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on shares of L3Harris from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. L3Harris currently has an average rating of “Buy” and a consensus target price of $240.05.

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

L3Harris (NYSE:LHX) last announced its quarterly earnings results on Friday, July 31st. The company reported $2.83 EPS for the quarter, beating the Zacks’ consensus estimate of $2.61 by $0.22. L3Harris had a net margin of 8.30% and a return on equity of 13.20%. The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.48 billion. During the same quarter in the prior year, the business earned $2.51 EPS. L3Harris’s quarterly revenue was up 138.3% on a year-over-year basis. Equities research analysts forecast that L3Harris will post 11.28 EPS for the current fiscal 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.

Further Reading: Depreciation

Institutional Ownership by Quarter for L3Harris (NYSE:LHX)

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