Asset Management One Co. Ltd. Acquires 1,772 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Asset Management One Co. Ltd. grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,910 shares of the company's stock after buying an additional 1,772 shares during the period. Asset Management One Co. Ltd.'s holdings in L3Harris Technologies were worth $15,272,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. OneDigital Investment Advisors LLC lifted its stake in shares of L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock valued at $1,883,000 after purchasing an additional 40 shares during the period. Blossom Wealth Management lifted its stake in shares of L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company's stock valued at $604,000 after purchasing an additional 43 shares during the period. Nicholas Hoffman & Company LLC. lifted its stake in shares of L3Harris Technologies by 3.3% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock valued at $322,000 after purchasing an additional 43 shares during the period. Archer Investment Corp lifted its stake in shares of L3Harris Technologies by 48.9% in 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 period. Finally, HMS Capital Management LLC lifted its stake in shares of L3Harris Technologies by 1.0% in the 3rd quarter. HMS Capital Management LLC now owns 4,850 shares of the company's stock valued at $1,154,000 after purchasing an additional 47 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LHX. Morgan Stanley dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Raymond James cut L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Finally, Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.67.

L3Harris Technologies Stock Performance

Shares of NYSE LHX traded down $0.90 during trading on Wednesday, reaching $194.80. 1,509,081 shares of the stock traded hands, compared to its average volume of 1,342,474. L3Harris Technologies, Inc. has a 52-week low of $194.25 and a 52-week 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 50-day moving average of $211.97 and a 200-day moving average of $229.72. The stock has a market capitalization of $36.95 billion, a P/E 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 (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 4,901 shares of company stock valued at $1,059,757. Corporate insiders own 0.87% of the company's stock.

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.