USA Financial Formulas Buys 290 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

USA Financial Formulas lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,013 shares of the company’s stock after purchasing an additional 290 shares during the period. USA Financial Formulas’ holdings in L3Harris Technologies were worth $1,054,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LHX. JPMorgan Chase & Co. raised its position in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after acquiring an additional 178,407 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in L3Harris Technologies by 65.2% in the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after buying an additional 171,420 shares during the period. International Assets Investment Management LLC raised its holdings in shares of L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after acquiring an additional 169,878 shares during the period. Mizuho Markets Americas LLC boosted its stake in L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in L3Harris Technologies by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock worth $315,611,000 after purchasing an additional 156,453 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $214.03 on Thursday. The stock’s 50-day moving average is $229.70 and its 200-day moving average is $233.23. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The stock has a market cap of $40.60 billion, a P/E ratio of 33.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. During the same period in the prior year, the company posted $3.19 EPS. The company’s revenue was up 7.7% on a year-over-year basis. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 7,889 shares of company stock worth $1,800,572. Company insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of several research reports. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Tuesday, November 26th. Truist Financial cut their price objective on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday. Royal Bank of Canada increased their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.25.

L3Harris Technologies Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.