Columbus Macro LLC Grows Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Columbus Macro LLC boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 494.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,609 shares of the company’s stock after buying an additional 14,645 shares during the quarter. Columbus Macro LLC’s holdings in L3Harris Technologies were worth $3,703,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LHX. abrdn plc raised its stake in shares of L3Harris Technologies by 14.6% during the fourth quarter. abrdn plc now owns 19,801 shares of the company’s stock worth $4,139,000 after purchasing an additional 2,530 shares during the last quarter. Optas LLC lifted its position in L3Harris Technologies by 17.7% in the fourth quarter. Optas LLC now owns 1,627 shares of the company’s stock valued at $342,000 after purchasing an additional 245 shares during the period. GDS Wealth Management increased its position in L3Harris Technologies by 3.8% during the 4th quarter. GDS Wealth Management now owns 79,585 shares of the company’s stock worth $16,735,000 after purchasing an additional 2,884 shares during the period. Means Investment CO. Inc. lifted its holdings in shares of L3Harris Technologies by 21.2% in the 4th quarter. Means Investment CO. Inc. now owns 1,230 shares of the company’s stock valued at $259,000 after buying an additional 215 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in shares of L3Harris Technologies by 13.5% in the fourth quarter. CENTRAL TRUST Co now owns 5,223 shares of the company’s stock valued at $1,098,000 after buying an additional 621 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. UBS Group lifted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday. 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. Finally, Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.87.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 4,901 shares of company stock valued at $1,059,757. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Up 0.5 %

NYSE LHX opened at $213.07 on Tuesday. The company has a market capitalization of $40.41 billion, a P/E ratio of 27.07, a PEG ratio of 1.74 and a beta of 0.76. The company’s 50 day simple moving average is $220.51 and its 200 day simple moving average is $232.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74.

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