Blue Trust Inc. Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Blue Trust Inc. lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 557.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,294 shares of the company's stock after purchasing an additional 3,641 shares during the quarter. Blue Trust Inc.'s holdings in L3Harris Technologies were worth $903,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Campbell Wealth Management boosted its holdings in L3Harris Technologies by 21.6% in the fourth quarter. Campbell Wealth Management now owns 1,204 shares of the company's stock worth $253,000 after acquiring an additional 214 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of L3Harris Technologies by 2.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 71,910 shares of the company's stock valued at $15,272,000 after purchasing an additional 1,772 shares during the last quarter. SFE Investment Counsel boosted its stake in L3Harris Technologies by 0.5% in the 4th quarter. SFE Investment Counsel now owns 22,901 shares of the company's stock worth $4,816,000 after purchasing an additional 122 shares in the last quarter. Avestar Capital LLC increased its stake in L3Harris Technologies by 18.3% during the 4th quarter. Avestar Capital LLC now owns 1,485 shares of the company's stock valued at $312,000 after purchasing an additional 230 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of L3Harris Technologies by 1,015.9% in the fourth quarter. Van ECK Associates Corp now owns 13,224 shares of the company's stock worth $2,781,000 after buying an additional 12,039 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were 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. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 in the last three months. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. 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 upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and reduced their price objective for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Barclays decreased their target price on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Finally, Truist Financial cut their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $262.67.

L3Harris Technologies Stock Performance

LHX stock traded up $2.54 during midday trading on Thursday, hitting $197.19. 1,528,751 shares of the stock traded hands, compared to its average volume of 1,348,146. The stock's fifty day simple moving average is $211.28 and its 200-day simple moving average is $229.48. The firm has a market cap of $37.13 billion, a P/E ratio of 25.06, a PEG ratio of 2.40 and a beta of 0.76. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year 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.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its 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 return on equity of 13.11% and a net margin of 7.04%. On average, analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

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.