L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Lifted by Grove Bank & Trust

Grove Bank & Trust boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 31.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 459 shares of the company’s stock after purchasing an additional 111 shares during the period. Grove Bank & Trust’s holdings in L3Harris Technologies were worth $97,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in L3Harris Technologies by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after purchasing an additional 59,008 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in L3Harris Technologies by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after acquiring an additional 27,763 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in L3Harris Technologies by 5.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after acquiring an additional 85,882 shares during the last quarter. Raymond James & Associates lifted its stake in L3Harris Technologies by 3.0% in the third quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock valued at $234,275,000 after acquiring an additional 28,882 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its stake in L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after acquiring an additional 166,262 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.87% of the stock is owned by insiders.

L3Harris Technologies Trading Down 0.1 %

Shares of L3Harris Technologies stock opened at $218.22 on Tuesday. The company’s fifty day moving average price is $227.28 and its two-hundred day moving average price is $233.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74. The firm has a market capitalization of $41.39 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Citigroup lifted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $266.19.

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.