Golden State Wealth Management LLC Purchases New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Golden State Wealth Management LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 199 shares of the company’s stock, valued at approximately $42,000.

Several other large investors have also recently added to or reduced their stakes in LHX. Geode Capital Management LLC increased its holdings in shares of 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 during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of L3Harris Technologies by 1.4% during 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 purchasing an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of L3Harris Technologies by 5.9% during 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 purchasing an additional 85,882 shares during the period. Raymond James & Associates increased its holdings in shares of L3Harris Technologies by 3.0% during the third quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock valued at $234,275,000 after purchasing an additional 28,882 shares during the period. Finally, Mizuho Markets Americas LLC increased its holdings in shares of L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after purchasing an additional 166,262 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 in the last three months. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. UBS Group raised their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company decreased their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $262.67.

L3Harris Technologies Price Performance

NYSE:LHX opened at $206.52 on Wednesday. The firm has a market capitalization of $39.17 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 1.75 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The stock’s 50 day moving average price is $216.27 and its two-hundred day moving average price is $230.92.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, analysts anticipate that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current 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.