L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Gries Financial LLC

Gries Financial LLC increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 9.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,725 shares of the company’s stock after acquiring an additional 398 shares during the quarter. Gries Financial LLC’s holdings in L3Harris Technologies were worth $994,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Archer Investment Corp grew its holdings in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares in the last quarter. Kennebec Savings Bank purchased a new position in L3Harris Technologies in the third quarter valued at about $36,000. Union Bancaire Privee UBP SA purchased a new position in L3Harris Technologies in the fourth quarter valued at about $33,000. Trust Co. of Vermont grew its stake 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 purchasing an additional 86 shares in the last quarter. Finally, MCF Advisors LLC grew 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 purchasing an additional 110 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the company’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. This represents a 17.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Down 0.6 %

NYSE LHX opened at $212.12 on Thursday. The firm has a market cap of $40.23 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The stock’s 50 day simple moving average is $222.57 and its 200 day simple moving average is $232.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

Wall Street Analyst Weigh In

A number of brokerages have commented on LHX. JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $271.07.

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.