Mirae Asset Global Investments Co. Ltd. Acquires 10,259 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Mirae Asset Global Investments Co. Ltd. lifted its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 81.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,881 shares of the company's stock after acquiring an additional 10,259 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in L3Harris Technologies were worth $4,854,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Archer Investment Corp increased its position in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company's stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $33,000. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies during the third quarter worth approximately $36,000. New Millennium Group LLC boosted its holdings in shares of L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company's stock worth $39,000 after purchasing an additional 163 shares during the period. Finally, Trust Co. of Vermont boosted its holdings in shares of L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company's stock worth $41,000 after purchasing an additional 86 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ross Niebergall sold 1,373 shares of the business's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 over the last 90 days. 0.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on LHX. 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 report on Thursday, January 2nd. StockNews.com upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Raymond James cut shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Citigroup decreased their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a report on Monday. Finally, 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 report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.67.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded down $6.27 during trading on Wednesday, reaching $200.48. The stock had a trading volume of 1,694,477 shares, compared to its average volume of 1,287,359. L3Harris Technologies, Inc. has a 52 week low of $199.56 and a 52 week high of $265.74. The firm has a market capitalization of $38.03 billion, a price-to-earnings ratio of 25.47, a P/E/G ratio of 1.75 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $215.60 and a two-hundred day simple moving average of $230.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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%. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 11.19 earnings per share 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.