L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 62.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,257 shares of the company's stock after acquiring an additional 3,546 shares during the quarter. Illinois Municipal Retirement Fund's holdings in L3Harris Technologies were worth $1,947,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LHX. Pallas Capital Advisors LLC lifted its stake in L3Harris Technologies by 8.1% in the third quarter. Pallas Capital Advisors LLC now owns 1,043 shares of the company's stock worth $255,000 after acquiring an additional 78 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of L3Harris Technologies by 4.0% during the third quarter. First Trust Direct Indexing L.P. now owns 5,856 shares of the company's stock valued at $1,393,000 after buying an additional 224 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in shares of L3Harris Technologies by 1.2% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 81,499 shares of the company's stock valued at $19,386,000 after buying an additional 963 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in shares of L3Harris Technologies by 20.1% during the third quarter. Stephens Investment Management Group LLC now owns 71,497 shares of the company's stock valued at $17,007,000 after buying an additional 11,948 shares during the last quarter. Finally, Americana Partners LLC lifted its position in shares of L3Harris Technologies by 4.0% during the third quarter. Americana Partners LLC now owns 28,098 shares of the company's stock valued at $6,684,000 after buying an additional 1,070 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now owns 6,812 shares in the company, 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 is accessible through the SEC website. In the last 90 days, insiders have sold 4,901 shares of company stock worth $1,059,757. Corporate insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of several analyst reports. Susquehanna decreased their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. UBS Group increased their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research report on Thursday, January 2nd. Bank of America decreased their price target 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, Argus upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective on the stock 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. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of "Moderate Buy" and an average price target of $261.47.

L3Harris Technologies Stock Performance

NYSE:LHX traded up $1.33 during midday trading on Friday, hitting $206.23. The company's stock had a trading volume of 1,245,205 shares, compared to its average volume of 1,351,318. The firm has a market cap of $38.84 billion, a P/E ratio of 26.20, a P/E/G ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm's 50 day moving average is $209.05 and its 200-day moving average is $228.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

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.