Means Investment CO. Inc. Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Means Investment CO. Inc. grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 21.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,230 shares of the company’s stock after acquiring an additional 215 shares during the quarter. Means Investment CO. Inc.’s holdings in L3Harris Technologies were worth $259,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Archer Investment Corp boosted its holdings 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 purchasing an additional 43 shares during the last quarter. Kennebec Savings Bank purchased a new position in L3Harris Technologies during the 3rd quarter valued at approximately $36,000. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies in the 4th quarter worth approximately $33,000. New Millennium Group LLC raised its holdings in shares of L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after acquiring an additional 163 shares in the last quarter. Finally, Trust Co. of Vermont boosted its position in shares of L3Harris Technologies by 78.9% during the 4th 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. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $211.99 on Monday. The business has a fifty day simple moving average of $220.51 and a two-hundred day simple moving average of $232.21. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market capitalization of $40.21 billion, a P/E ratio of 26.94, a P/E/G ratio of 1.74 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, analysts expect that L3Harris Technologies, Inc. will post 13.8 earnings per share for the current year.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the transaction, the insider now owns 6,812 shares in the company, valued at $1,455,383.80. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 4,901 shares of company stock worth $1,059,757. 0.87% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LHX has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Truist Financial lowered their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday. Barclays cut their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $265.87.

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.