Buckingham Capital Management Inc. Has $2.08 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Buckingham Capital Management Inc. cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,886 shares of the company’s stock after selling 155 shares during the period. Buckingham Capital Management Inc.’s holdings in L3Harris Technologies were worth $2,079,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of LHX. Archer Investment Corp boosted its stake in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $30,000. Kennebec Savings Bank acquired a new position in L3Harris Technologies during the third quarter valued at approximately $36,000. Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $33,000. Finally, New Millennium Group LLC lifted its stake in shares of L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after buying an additional 163 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LHX shares. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company lowered their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Stock Performance

NYSE LHX opened at $198.02 on Tuesday. L3Harris Technologies, Inc. has a twelve month low of $196.67 and a twelve month high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $37.56 billion, a P/E ratio of 25.16, a PEG ratio of 1.75 and a beta of 0.76. The company’s 50-day simple moving average is $213.30 and its 200 day simple moving average is $230.19.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data 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%. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the transaction, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 4,901 shares of company stock worth $1,059,757 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Company 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.