Financial Advocates Investment Management Buys Shares of 1,242 L3Harris Technologies, Inc. (NYSE:LHX)

Financial Advocates Investment Management acquired a new position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,242 shares of the company's stock, valued at approximately $261,000.

Several other institutional investors have also recently modified their holdings of LHX. Archer Investment Corp raised its position in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after acquiring an additional 43 shares in the last quarter. Kennebec Savings Bank purchased a new position in L3Harris Technologies during the third quarter valued at approximately $36,000. Union Bancaire Privee UBP SA purchased a new position in L3Harris Technologies during the fourth quarter valued at approximately $33,000. New Millennium Group LLC raised its position in L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company's stock valued at $39,000 after acquiring an additional 163 shares in the last quarter. Finally, Trust Co. of Vermont raised its position in L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company's stock valued at $41,000 after acquiring an additional 86 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on LHX. UBS Group lifted 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. Royal Bank of Canada reiterated a "sector perform" rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Barclays dropped their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $262.67.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded down $0.82 during trading on Thursday, reaching $199.79. The stock had a trading volume of 2,142,276 shares, compared to its average volume of 1,316,843. 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 business has a fifty day moving average price of $214.80 and a 200-day moving average price of $230.55. The stock has a market cap of $37.89 billion, a PE ratio of 25.39, a PEG ratio of 1.75 and a beta of 0.76. L3Harris Technologies, Inc. has a 1-year low of $198.43 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results 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%. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the business's 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 transaction, the insider now owns 6,812 shares of the company's stock, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 4,901 shares of company stock valued at $1,059,757. Insiders own 0.82% of the company's stock.

L3Harris Technologies 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.