Peterson Wealth Services Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Peterson Wealth Services raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 9.8% during the 4th quarter, Holdings Channel reports. The firm owned 1,709 shares of the company’s stock after buying an additional 153 shares during the quarter. Peterson Wealth Services’ holdings in L3Harris Technologies were worth $359,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position in L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after buying an additional 59,008 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake 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 acquiring an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA raised its holdings 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 purchasing an additional 85,882 shares during the last quarter. Raymond James & Associates lifted its position 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 purchasing an additional 28,882 shares during the period. Finally, Mizuho Markets Americas LLC boosted its holdings in L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after purchasing an additional 166,262 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 1.1 %

LHX stock opened at $208.30 on Tuesday. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The business’s 50-day moving average is $216.96 and its 200 day moving average is $231.17. 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 stock has a market cap of $39.51 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of recent research reports. Truist Financial reduced their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Susquehanna reduced 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. Barclays lowered 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. Bank of America cut their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Finally, Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $262.67.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 4,901 shares of company stock worth $1,059,757 over the last three months. Insiders own 0.82% of the company’s stock.

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.