Adell Harriman & Carpenter Inc. boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 131.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,755 shares of the company's stock after purchasing an additional 4,408 shares during the quarter. Adell Harriman & Carpenter Inc.'s holdings in L3Harris Technologies were worth $1,631,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Archer Investment Corp increased its stake in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company's stock worth $31,000 after buying an additional 43 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth about $36,000. Union Bancaire Privee UBP SA acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $33,000. New Millennium Group LLC lifted its position in shares of L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company's stock worth $39,000 after purchasing an additional 163 shares during the last quarter. Finally, 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 worth $41,000 after purchasing an additional 86 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.
Insider Activity at L3Harris Technologies
In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the 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 directly owns 6,812 shares of the company's stock, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 4,901 shares of company stock worth $1,059,757 over the last quarter. 0.87% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several brokerages have issued reports on LHX. Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective on the stock in a research note on Tuesday, November 26th. UBS Group upped their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. StockNews.com raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Finally, Citigroup decreased their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a report on Monday, February 10th. Five 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, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $262.67.
Read Our Latest Stock Analysis on L3Harris Technologies
L3Harris Technologies Stock Performance
L3Harris Technologies stock traded down $0.90 during mid-day trading on Wednesday, hitting $194.80. 1,509,273 shares of the company's stock traded hands, compared to its average volume of 1,342,477. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a one year low of $194.25 and a one year high of $265.74. The firm has a 50 day moving average price of $211.97 and a 200 day moving average price of $229.72. The company has a market cap of $36.95 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.43 and a beta of 0.76.
L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share 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%. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.
About L3Harris Technologies
(
Free Report)
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.
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