Ipswich Investment Management Co. Inc. Raises Position in L3Harris Technologies, Inc. (NYSE:LHX)

Ipswich Investment Management Co. Inc. boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,145 shares of the company’s stock after acquiring an additional 255 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in L3Harris Technologies were worth $1,923,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $30,000. Archer Investment Corp grew its holdings in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $33,000. Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth approximately $36,000. Finally, New Millennium Group LLC boosted its position in L3Harris Technologies by 776.2% during 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 period. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LHX shares. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Morgan Stanley reduced their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Truist Financial reduced their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.67.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction 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 completion of the sale, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 4,901 shares of company stock valued at $1,059,757. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $199.13 on Friday. The firm has a market capitalization of $37.50 billion, a P/E ratio of 25.30, a PEG ratio of 2.39 and a beta of 0.76. The stock has a fifty day moving average of $210.26 and a 200-day moving average of $229.06. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 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%. Equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal 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.