SVB Wealth LLC Invests $15.24 Million in L3Harris Technologies, Inc. (NYSE:LHX)

SVB Wealth LLC purchased a new position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 72,492 shares of the company's stock, valued at approximately $15,244,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. National Pension Service increased its position in shares of L3Harris Technologies by 42.1% during the fourth quarter. National Pension Service now owns 606,047 shares of the company's stock valued at $127,440,000 after acquiring an additional 179,539 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 acquiring an additional 178,407 shares in the last quarter. Mizuho Markets Americas LLC boosted its stake in L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock valued at $195,704,000 after purchasing an additional 166,262 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth $35,904,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter worth $25,071,000. Institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on LHX. UBS Group increased their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Bank of America dropped their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Argus upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $261.47.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 4,901 shares of company stock valued at $1,059,757 over the last quarter. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Up 0.7 %

L3Harris Technologies stock traded up $1.33 during midday trading on Friday, hitting $206.23. 1,245,205 shares of the company's stock were exchanged, compared to its average volume of 1,351,318. The company has a market cap of $38.84 billion, a PE ratio of 26.20, a P/E/G ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. 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 firm has a 50-day moving average of $209.05 and a two-hundred day moving average of $228.21.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, analysts expect that L3Harris Technologies, Inc. will post 11.12 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.