Gradient Investments LLC Raises Position in L3Harris Technologies, Inc. (NYSE:LHX)

Gradient Investments LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,704 shares of the company’s stock after buying an additional 521 shares during the quarter. Gradient Investments LLC’s holdings in L3Harris Technologies were worth $11,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. KCM Investment Advisors LLC grew its stake in shares of L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after acquiring an additional 5,868 shares during the last quarter. Fortem Financial Group LLC purchased a new stake in L3Harris Technologies during the 3rd quarter worth approximately $841,000. Czech National Bank increased its stake in L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after purchasing an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after buying an additional 4,321 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $218.64 on Friday. The stock has a market capitalization of $41.47 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The firm has a 50-day simple moving average of $224.18 and a 200-day simple moving average of $232.86. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $3.19 EPS. On average, equities analysts predict that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

LHX has been the subject of a number of research analyst reports. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. JPMorgan Chase & Co. dropped their target price on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Susquehanna reduced their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Citigroup upped their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is currently owned by insiders.

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.