Means Investment CO. Inc. Buys 215 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Means Investment CO. Inc. grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 21.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,230 shares of the company’s stock after acquiring an additional 215 shares during the period. Means Investment CO. Inc.’s holdings in L3Harris Technologies were worth $259,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Archer Investment Corp increased 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 worth $31,000 after purchasing an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $33,000. Kennebec Savings Bank bought a new stake in L3Harris Technologies during the 3rd quarter valued at $36,000. New Millennium Group LLC lifted its position in shares of L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after acquiring an additional 163 shares in the last quarter. Finally, Trust Co. of Vermont boosted its holdings in shares of L3Harris Technologies by 78.9% in the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after acquiring an additional 86 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $211.99 on Monday. The stock has a market cap of $40.21 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 1.74 and a beta of 0.76. The stock has a 50 day moving average of $220.51 and a 200-day moving average of $232.21. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, analysts expect that L3Harris Technologies, Inc. will post 13.8 EPS for the current fiscal year.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the sale, the insider now directly owns 8,576 shares of the company’s stock, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 4,901 shares of company stock worth $1,059,757. Corporate insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of several recent analyst reports. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Citigroup lifted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Truist Financial decreased their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company reduced their target price on 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.87.

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.