72,492 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by SVB Wealth LLC

SVB Wealth LLC acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 72,492 shares of the company’s stock, valued at approximately $15,244,000.

Several other large investors have also recently added to or reduced their stakes in LHX. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter valued at $27,000. Roxbury Financial LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at $30,000. Archer Investment Corp grew its stake in L3Harris Technologies by 48.9% in 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 in the last quarter. Union Bancaire Privee UBP SA acquired a new position in L3Harris Technologies in the 4th quarter worth about $33,000. Finally, Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 in the last ninety days. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of several recent research reports. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. UBS Group boosted their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies 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 report on Tuesday, November 26th. Finally, Citigroup cut their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 10th. 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 target price of $261.47.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $206.23 on Friday. The company has a market cap of $38.84 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.42 and a beta of 0.76. The business has a 50 day moving average price of $209.05 and a 200 day moving average price of $228.21. 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 twelve month low of $193.09 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share 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.