Hennion & Walsh Asset Management Inc. Buys 1,501 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Hennion & Walsh Asset Management Inc. grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 43.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,963 shares of the company's stock after purchasing an additional 1,501 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in L3Harris Technologies were worth $1,044,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. Archer Investment Corp boosted its holdings in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after acquiring an additional 43 shares during the period. Kennebec Savings Bank bought a new position in shares of L3Harris Technologies in the third quarter worth approximately $36,000. Ashton Thomas Securities LLC bought a new stake in L3Harris Technologies during the 3rd quarter valued at $64,000. Armstrong Advisory Group Inc. boosted its position in L3Harris Technologies by 1,660.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company's stock valued at $74,000 after buying an additional 332 shares during the period. Finally, Quest Partners LLC boosted its position in L3Harris Technologies by 36,000.0% during the 3rd quarter. Quest Partners LLC now owns 361 shares of the company's stock valued at $86,000 after buying an additional 360 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the business's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 7,889 shares of company stock valued at $1,800,572. 0.87% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LHX shares. StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Royal Bank of Canada boosted their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a research note on Monday, October 28th. Truist Financial decreased their target price on L3Harris Technologies from $300.00 to $283.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Bank of America upgraded shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Argus upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective for the company in a report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $266.19.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded down $0.26 during mid-day trading on Monday, reaching $218.22. 778,308 shares of the stock traded hands, compared to its average volume of 939,366. The business's 50-day moving average is $227.28 and its 200-day moving average is $233.09. The stock has a market capitalization of $41.39 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 earnings per share. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.07 EPS for the current fiscal year.

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.