Money Concepts Capital Corp Buys 1,485 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Money Concepts Capital Corp grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 53.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,268 shares of the company’s stock after purchasing an additional 1,485 shares during the quarter. Money Concepts Capital Corp’s holdings in L3Harris Technologies were worth $897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Archer Investment Corp raised its stake in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the 4th quarter worth about $33,000. Kennebec Savings Bank bought a new position in shares of L3Harris Technologies in the 3rd quarter worth about $36,000. New Millennium Group LLC lifted its stake 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 purchasing an additional 163 shares during the period. Finally, Trust Co. of Vermont boosted its position in shares of L3Harris Technologies by 78.9% during the 4th 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. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was 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 directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last 90 days. Insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of research analyst reports. Susquehanna lowered their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Truist Financial reduced their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company 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 on the stock in a report on Tuesday, November 26th. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $263.07.

L3Harris Technologies Trading Down 0.9 %

NYSE LHX opened at $208.89 on Thursday. 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 firm has a market capitalization of $39.62 billion, a P/E ratio of 26.54, a PEG ratio of 1.74 and a beta of 0.76. The business has a fifty day simple moving average of $219.26 and a 200 day simple moving average of $231.83. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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, analysts predict that L3Harris Technologies, Inc. will post 13.8 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.