Independence Bank of Kentucky Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Independence Bank of Kentucky grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 57.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 931 shares of the company’s stock after acquiring an additional 339 shares during the quarter. Independence Bank of Kentucky’s holdings in L3Harris Technologies were worth $196,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LHX. Archer Investment Corp increased its stake in 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 buying an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of L3Harris Technologies in the fourth quarter worth approximately $33,000. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies during the third quarter worth approximately $36,000. New Millennium Group LLC raised its stake in L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont lifted its holdings in L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after purchasing an additional 86 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. This represents a 20.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 4,901 shares of company stock valued at $1,059,757. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Down 0.0 %

L3Harris Technologies stock opened at $211.99 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a 50 day moving average price of $220.51 and a 200 day moving average price of $232.21. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The company has a market capitalization of $40.21 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) 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 5.71%. Research analysts expect that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LHX shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a report on Friday. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Susquehanna dropped their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Five equities 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 stock currently has an average rating of “Moderate Buy” and an average price target of $265.87.

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.