Kingswood Wealth Advisors LLC Increases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Kingswood Wealth Advisors LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 10.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,578 shares of the company’s stock after purchasing an additional 698 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in L3Harris Technologies were worth $1,594,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LHX. Archer Investment Corp boosted its position in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $36,000. Trust Co. of Vermont lifted its position in L3Harris Technologies by 78.9% in the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after acquiring an additional 86 shares during the last quarter. MCF Advisors LLC lifted its stake in L3Harris Technologies by 84.0% in the fourth quarter. MCF Advisors LLC now owns 241 shares of the company’s stock valued at $51,000 after buying an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in L3Harris Technologies during the 3rd quarter worth $64,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 1.7 %

LHX stock opened at $222.31 on Tuesday. The firm has a market cap of $42.16 billion, a PE ratio of 35.12, a PEG ratio of 1.75 and a beta of 0.75. The company has a fifty day simple moving average of $223.62 and a 200 day simple moving average of $232.90. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the sale, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LHX shares. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Citigroup increased their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Barclays lowered their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.19.

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.