L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Raised by Somerset Trust Co

Somerset Trust Co boosted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.5% during the 4th quarter, HoldingsChannel reports. The firm owned 18,113 shares of the company’s stock after buying an additional 785 shares during the quarter. L3Harris Technologies accounts for 1.4% of Somerset Trust Co’s investment portfolio, making the stock its 27th biggest holding. Somerset Trust Co’s holdings in L3Harris Technologies were worth $3,809,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LHX. Archer Investment Corp lifted its position in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Kennebec Savings Bank acquired a new position in L3Harris Technologies in the 3rd quarter valued at approximately $36,000. Ashton Thomas Securities LLC purchased a new stake in L3Harris Technologies in the 3rd quarter worth approximately $64,000. Armstrong Advisory Group Inc. boosted its stake in shares of L3Harris Technologies by 1,660.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company’s stock valued at $74,000 after buying an additional 332 shares during the period. Finally, Quest Partners LLC grew its holdings in shares of L3Harris Technologies by 36,000.0% during the 3rd quarter. Quest Partners LLC now owns 361 shares of the company’s stock valued at $86,000 after acquiring an additional 360 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday. Citigroup lifted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Thursday, October 10th. Truist Financial reduced their target price on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $266.19.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the sale, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $218.22 on Friday. The company has a market cap of $41.39 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 1.68 and a beta of 0.75. The business has a 50 day moving average price of $228.12 and a 200 day moving average price of $232.99. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74.

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

About L3Harris Technologies

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.