Proficio Capital Partners LLC Acquires New Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Proficio Capital Partners LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 119,229 shares of the company’s stock, valued at approximately $25,071,000. Proficio Capital Partners LLC owned about 0.06% of L3Harris Technologies at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LHX. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth about $27,000. Roxbury Financial LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth about $30,000. Archer Investment Corp boosted its stake in shares of 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 purchasing an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth about $33,000. Finally, Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies during the 3rd quarter worth about $36,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 0.7 %

Shares of NYSE:LHX opened at $206.23 on Friday. 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 company has a fifty day simple moving average of $209.05 and a 200 day simple moving average of $228.21. The firm has a market cap of $38.84 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

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 net margin of 7.04% and a return on equity of 13.11%. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 over the last 90 days. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LHX. Morgan Stanley cut their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $261.47.

L3Harris Technologies 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.