4,441 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Elk River Wealth Management LLC

Elk River Wealth Management LLC bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,441 shares of the company's stock, valued at approximately $934,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. JPMorgan Chase & Co. increased its holdings in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock valued at $184,245,000 after purchasing an additional 178,407 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of L3Harris Technologies by 23,627.0% in 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 in the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock valued at $195,704,000 after buying an additional 166,262 shares during the period. Janney Montgomery Scott LLC acquired a new position in L3Harris Technologies during the 3rd quarter worth about $35,904,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in L3Harris Technologies by 156.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company's stock valued at $35,259,000 after acquiring an additional 90,370 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Up 1.2 %

LHX stock traded up $2.44 during midday trading on Friday, reaching $199.67. 935,289 shares of the company were exchanged, compared to its average volume of 1,332,355. The company has a market cap of $37.60 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.39 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The stock's 50-day simple moving average is $210.74 and its 200 day simple moving average is $229.26.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results 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 net margin of 7.04% and a return on equity of 13.11%. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Susquehanna cut their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Truist Financial cut their price objective on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a research note on Thursday, January 2nd. Argus raised L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.67.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the sale, the insider now owns 6,812 shares in the company, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 4,901 shares of company stock valued at $1,059,757. Insiders own 0.82% of the company's stock.

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.