Burney Co. Has $12.72 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Burney Co. reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 0.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 60,489 shares of the company’s stock after selling 292 shares during the quarter. Burney Co.’s holdings in L3Harris Technologies were worth $12,720,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Archer Investment Corp increased its holdings 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 during the period. Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $36,000. Ashton Thomas Securities LLC acquired a new stake in shares of L3Harris Technologies in the third quarter valued at about $64,000. Quest Partners LLC raised its position in shares of L3Harris Technologies by 36,000.0% during the third quarter. Quest Partners LLC now owns 361 shares of the company’s stock worth $86,000 after acquiring an additional 360 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of L3Harris Technologies by 133.7% in the fourth quarter. Versant Capital Management Inc now owns 472 shares of the company’s stock worth $99,000 after acquiring an additional 270 shares during the period. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of several analyst reports. Citigroup raised their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Truist Financial dropped their price objective on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.25.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $214.17 on Wednesday. The company has a 50-day moving average price of $229.70 and a two-hundred day moving average price of $233.23. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $40.62 billion, a PE ratio of 33.83, a P/E/G ratio of 1.86 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the business earned $3.19 EPS. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS 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.