Spectrum Asset Management Inc. NB CA Purchases 871 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Spectrum Asset Management Inc. NB CA lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,867 shares of the company’s stock after acquiring an additional 871 shares during the quarter. L3Harris Technologies accounts for approximately 1.5% of Spectrum Asset Management Inc. NB CA’s investment portfolio, making the stock its 25th largest holding. Spectrum Asset Management Inc. NB CA’s holdings in L3Harris Technologies were worth $3,337,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Archer Investment Corp lifted its position in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in L3Harris Technologies during the fourth quarter worth $33,000. Kennebec Savings Bank bought a new stake in L3Harris Technologies during the 3rd quarter valued at $36,000. New Millennium Group LLC increased its holdings in shares of 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 acquiring an additional 163 shares during the period. Finally, Trust Co. of Vermont raised its position in shares of L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after acquiring an additional 86 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the sale, the insider now owns 6,812 shares in the company, valued at $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 4,901 shares of company stock valued at $1,059,757. Company insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LHX shares. Morgan Stanley dropped their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Truist Financial cut their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $289.00 to $267.00 in a report 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 a consensus target price of $263.07.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $206.42 on Friday. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week 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 firm has a market cap of $39.15 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.74 and a beta of 0.76. The business’s 50 day moving average price is $218.54 and its 200 day moving average price is $231.67.

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, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 13.8 earnings per share for the current 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.