Janney Montgomery Scott LLC Has $33.41 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Janney Montgomery Scott LLC grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 158,874 shares of the company’s stock after purchasing an additional 7,934 shares during the period. Janney Montgomery Scott LLC’s holdings in L3Harris Technologies were worth $33,408,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. AE Wealth Management LLC raised its holdings in shares of L3Harris Technologies by 64.0% in the second quarter. AE Wealth Management LLC now owns 2,772 shares of the company’s stock valued at $623,000 after purchasing an additional 1,082 shares during the last quarter. ProShare Advisors LLC increased its holdings in L3Harris Technologies by 8.6% during the second quarter. ProShare Advisors LLC now owns 26,202 shares of the company’s stock worth $5,884,000 after buying an additional 2,075 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in L3Harris Technologies by 72.6% during the second quarter. Public Sector Pension Investment Board now owns 7,208 shares of the company’s stock worth $1,619,000 after buying an additional 3,032 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in L3Harris Technologies by 12.5% during the second quarter. Evergreen Capital Management LLC now owns 1,396 shares of the company’s stock worth $314,000 after buying an additional 155 shares during the last quarter. Finally, Insigneo Advisory Services LLC increased its holdings in L3Harris Technologies by 6.0% during the second quarter. Insigneo Advisory Services LLC now owns 2,725 shares of the company’s stock worth $619,000 after buying an additional 155 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 7,889 shares of company stock valued at $1,800,572 over the last quarter. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Trading Down 0.1 %

Shares of L3Harris Technologies stock opened at $219.79 on Friday. The firm has a 50-day moving average of $224.75 and a 200-day moving average of $232.95. The stock has a market cap of $41.69 billion, a PE ratio of 34.72, a PEG ratio of 1.78 and a beta of 0.75. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LHX. 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. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Finally, Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

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.