IFP Advisors Inc Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

IFP Advisors Inc increased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 51.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,128 shares of the company’s stock after purchasing an additional 1,065 shares during the quarter. IFP Advisors Inc’s holdings in L3Harris Technologies were worth $660,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Roxbury Financial LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter valued at approximately $30,000. Archer Investment Corp raised its stake in L3Harris Technologies by 48.9% during 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 during the last quarter. Union Bancaire Privee UBP SA purchased a new position in L3Harris Technologies during the fourth quarter valued at $33,000. Kennebec Savings Bank purchased a new position in L3Harris Technologies during the third quarter valued at $36,000. Finally, New Millennium Group LLC raised its stake in L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LHX. UBS Group lifted their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Citigroup lowered their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Morgan Stanley decreased their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Sanford C. Bernstein upgraded 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 analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $261.47.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 over the last ninety days. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

NYSE:LHX opened at $206.23 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $38.84 billion, a P/E ratio of 26.20, a P/E/G ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The business’s 50-day moving average is $209.05 and its 200 day moving average is $228.21.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating 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, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

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.