Marcum Wealth LLC Has $286,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Marcum Wealth LLC grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,361 shares of the company’s stock after buying an additional 94 shares during the quarter. Marcum Wealth LLC’s holdings in L3Harris Technologies were worth $286,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Wealthspire Advisors LLC grew its stake in L3Harris Technologies by 11.6% in the second quarter. Wealthspire Advisors LLC now owns 1,621 shares of the company’s stock valued at $364,000 after purchasing an additional 169 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of L3Harris Technologies by 6.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,705 shares of the company’s stock valued at $1,057,000 after purchasing an additional 268 shares during the period. J.W. Cole Advisors Inc. grew its stake in L3Harris Technologies by 6.9% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 4,092 shares of the company’s stock valued at $919,000 after buying an additional 263 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in L3Harris Technologies by 0.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,456,451 shares of the company’s stock valued at $327,090,000 after acquiring an additional 9,036 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of L3Harris Technologies by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock worth $315,611,000 after purchasing an additional 156,453 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 7,889 shares of company stock worth $1,800,572 over the last quarter. 0.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LHX shares. Barclays dropped their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Finally, Truist Financial decreased their target price on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $265.25.

L3Harris Technologies Stock Up 0.3 %

Shares of NYSE LHX opened at $214.65 on Wednesday. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-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 cap of $40.71 billion, a PE ratio of 33.91, a P/E/G ratio of 1.86 and a beta of 0.75. The company’s fifty day simple moving average is $229.70 and its 200 day simple moving average is $233.23.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the business posted $3.19 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

About L3Harris Technologies

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.