Greenleaf Trust Has $782,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Greenleaf Trust lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,719 shares of the company’s stock after purchasing an additional 129 shares during the quarter. Greenleaf Trust’s holdings in L3Harris Technologies were worth $782,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Avantra Family Wealth Inc. bought a new position in shares of L3Harris Technologies in the fourth quarter worth about $933,000. Comprehensive Financial Consultants Institutional Inc. raised its position in L3Harris Technologies by 5.4% in the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 9,271 shares of the company’s stock worth $1,950,000 after purchasing an additional 479 shares during the last quarter. Independence Bank of Kentucky boosted its position in L3Harris Technologies by 57.3% in the 4th quarter. Independence Bank of Kentucky now owns 931 shares of the company’s stock valued at $196,000 after buying an additional 339 shares during the last quarter. Blossom Wealth Management increased its stake in shares of L3Harris Technologies by 5.0% in the 4th quarter. Blossom Wealth Management now owns 2,666 shares of the company’s stock valued at $561,000 after buying an additional 128 shares during the period. Finally, New Millennium Group LLC raised its position in shares of L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LHX. UBS Group raised their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Morgan Stanley lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $263.07.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $223.62, for a total value 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. The trade was a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 4,901 shares of company stock valued at $1,059,757. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $210.85 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a market cap of $39.99 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.74 and a beta of 0.76. The business has a 50 day simple moving average of $219.96 and a 200 day simple moving average of $232.00. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Analysts anticipate that L3Harris Technologies, Inc. will post 13.8 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.