ARP Americas LP Takes $899,000 Position in L3Harris (NYSE:LHX)

ARP Americas LP acquired a new stake in L3Harris (NYSE:LHX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,300 shares of the company’s stock, valued at approximately $899,000. L3Harris accounts for 0.1% of ARP Americas LP’s holdings, making the stock its 29th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. StrongBox Wealth LLC lifted its stake in L3Harris by 5.7% during the second quarter. StrongBox Wealth LLC now owns 3,282 shares of the company’s stock worth $557,000 after purchasing an additional 177 shares during the last quarter. HCR Wealth Advisors acquired a new position in L3Harris during the second quarter worth approximately $1,728,000. TradeLink Capital LLC acquired a new position in L3Harris during the second quarter worth approximately $421,000. Washington Trust Bank acquired a new position in L3Harris during the second quarter worth approximately $4,327,000. Finally, Duality Advisers LP acquired a new position in shares of L3Harris in the second quarter valued at approximately $5,839,000. Institutional investors and hedge funds own 84.75% of the company’s stock.

Shares of NYSE:LHX traded down $4.90 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 company has a market cap of $36.34 billion, a PE ratio of 24.54 and a beta of 0.74. The business has a 50 day moving average of $174.02 and a 200 day moving average of $191.96. L3Harris has a 52-week low of $142.01 and a 52-week high of $230.99. 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 released its earnings results on Friday, July 31st. The company reported $2.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.61 by $0.22. The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.48 billion. L3Harris had a return on equity of 13.20% and a net margin of 8.30%. The business’s quarterly revenue was up 138.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.51 earnings per share. As a group, equities analysts predict that L3Harris will post 11.28 EPS for the current year.

In other L3Harris news, Director Thomas A. Corcoran sold 1,500 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $206.17, for a total transaction of $309,255.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lewis Kramer sold 6,000 shares of the company’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 sale, the director now owns 13,278 shares of the company’s stock, valued at $2,589,210. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

LHX has been the topic of a number of recent research reports. Credit Suisse Group dropped their target price on L3Harris from $226.00 to $205.00 and set an “outperform” rating on the stock in a report on Monday, July 20th. Morgan Stanley lifted 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. 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. SunTrust Banks decreased their price target on L3Harris from $265.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Finally, Royal Bank of Canada began coverage on L3Harris in a research report on Wednesday, May 20th. They set an “outperform” rating and a $219.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $240.05.

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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