Nisa Investment Advisors LLC Raises Position in L3Harris Technologies, Inc. (NYSE:LHX)

Nisa Investment Advisors LLC increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,405 shares of the company’s stock after purchasing an additional 99 shares during the quarter. Nisa Investment Advisors LLC’s holdings in L3Harris Technologies were worth $8,286,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LHX. Geode Capital Management LLC raised its position in shares of L3Harris Technologies by 1.3% during the 3rd 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 lifted its holdings in shares of L3Harris Technologies by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after buying an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position 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 worth $366,875,000 after acquiring an additional 85,882 shares during the last quarter. Raymond James & Associates grew its stake in 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 acquiring an additional 28,882 shares in the last quarter. Finally, Mizuho Markets Americas LLC lifted its stake in L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $219.79 on Friday. The company’s 50 day moving average is $224.75 and its 200 day moving average is $232.95. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market cap of $41.69 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 1.78 and a beta of 0.75. 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, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.19 earnings per share. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.07 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now owns 10,340 shares in the company, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 7,889 shares of company stock worth $1,800,572 over the last three months. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LHX shares. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Susquehanna dropped their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $266.19.

L3Harris Technologies 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.