ARS Investment Partners LLC Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

ARS Investment Partners LLC grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,774 shares of the company’s stock after buying an additional 132 shares during the quarter. L3Harris Technologies accounts for approximately 1.3% of ARS Investment Partners LLC’s holdings, making the stock its 27th biggest holding. ARS Investment Partners LLC’s holdings in L3Harris Technologies were worth $14,882,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after buying an additional 171,420 shares during the period. International Assets Investment Management LLC grew its stake in shares of L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after buying an additional 169,878 shares during the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after buying an additional 166,262 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in L3Harris Technologies during the 3rd quarter valued at $35,904,000. Institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction 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 transaction, 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 filing with the SEC, which is accessible through the SEC website. Insiders have sold 7,889 shares of company stock valued at $1,800,572 over the last ninety days. Insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LHX. Truist Financial cut their price target on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Citigroup increased their target price 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. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Thursday, October 10th. Argus upgraded shares of 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. Finally, Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $218.22 on Tuesday. The company has a market capitalization of $41.39 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 1.74 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company’s fifty day moving average price is $227.28 and its 200 day moving average price is $233.09. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the business posted $3.19 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts predict that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

L3Harris Technologies 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.