Empowered Funds LLC Buys 3,852 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Empowered Funds LLC lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 24.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,735 shares of the company's stock after acquiring an additional 3,852 shares during the period. Empowered Funds LLC's holdings in L3Harris Technologies were worth $4,150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Moloney Securities Asset Management LLC increased its position in shares of L3Harris Technologies by 3.3% during the fourth quarter. Moloney Securities Asset Management LLC now owns 3,105 shares of the company's stock worth $653,000 after acquiring an additional 100 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of L3Harris Technologies by 10.1% during the fourth quarter. Apollon Wealth Management LLC now owns 18,528 shares of the company's stock worth $3,896,000 after acquiring an additional 1,696 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter worth about $42,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in L3Harris Technologies by 13.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,088 shares of the company's stock worth $4,645,000 after purchasing an additional 2,545 shares in the last quarter. Finally, Spectrum Asset Management Inc. NB CA grew its position in L3Harris Technologies by 5.8% in the 4th quarter. Spectrum Asset Management Inc. NB CA now owns 15,867 shares of the company's stock worth $3,337,000 after purchasing an additional 871 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last three months. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of LHX stock traded down $1.98 during trading on Friday, reaching $198.02. 1,565,377 shares of the company's stock traded hands, compared to its average volume of 1,225,930. The company has a market capitalization of $37.56 billion, a P/E ratio of 25.16, a PEG ratio of 1.75 and a beta of 0.76. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm's 50-day moving average is $213.30 and its 200 day moving average is $230.16. L3Harris Technologies, Inc. has a 1 year low of $196.67 and a 1 year high of $265.74.

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, 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%. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LHX shares. Barclays reduced their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. UBS Group upped their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Bank of America reduced their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and dropped their target price for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $262.67.

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.