Brighton Jones LLC Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Brighton Jones LLC increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 233.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,284 shares of the company’s stock after purchasing an additional 3,001 shares during the period. Brighton Jones LLC’s holdings in L3Harris Technologies were worth $901,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Archer Investment Corp grew its stake in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares in the last quarter. Kennebec Savings Bank purchased a new stake in L3Harris Technologies during the third quarter worth about $36,000. Trust Co. of Vermont lifted its position in shares of L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after purchasing an additional 86 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of L3Harris Technologies by 84.0% in the fourth quarter. MCF Advisors LLC now owns 241 shares of the company’s stock valued at $51,000 after purchasing an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in L3Harris Technologies during the 3rd quarter worth approximately $64,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.5 %

L3Harris Technologies stock opened at $218.64 on Friday. The company has a market capitalization of $41.47 billion, a P/E ratio of 34.54, a PEG ratio of 1.75 and a beta of 0.75. 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, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The stock has a 50-day simple moving average of $223.62 and a 200-day simple moving average of $232.81.

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

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 7,889 shares of company stock worth $1,800,572 in the last 90 days. 0.82% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on LHX shares. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Susquehanna cut their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company cut their target price 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. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average 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.