Financial Advocates Investment Management Purchases New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Financial Advocates Investment Management acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, Holdings Channel.com reports. The fund acquired 1,242 shares of the company’s stock, valued at approximately $261,000.

A number of other large investors have also recently made changes to their positions in LHX. Archer Investment Corp raised its holdings 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 acquiring an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new position in L3Harris Technologies during the 3rd quarter valued at about $36,000. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies during the 4th quarter worth approximately $33,000. New Millennium Group LLC raised 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 purchasing an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont lifted its holdings in shares of L3Harris Technologies by 78.9% in the fourth 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.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the sale, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 4,901 shares of company stock valued at $1,059,757 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LHX shares. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. UBS Group boosted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein upgraded 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 note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $263.07.

L3Harris Technologies Trading Down 0.3 %

Shares of LHX opened at $206.05 on Monday. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The business has a 50-day moving average of $216.96 and a 200 day moving average of $231.21. The firm has a market cap of $39.08 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 11.19 EPS 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.