Otter Creek Advisors LLC Grows Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Otter Creek Advisors LLC grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1,140.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,366 shares of the company's stock after purchasing an additional 21,482 shares during the period. L3Harris Technologies makes up 3.4% of Otter Creek Advisors LLC's investment portfolio, making the stock its 13th largest position. Otter Creek Advisors LLC's holdings in L3Harris Technologies were worth $4,913,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LHX. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies in the fourth quarter valued at about $27,000. Archer Investment Corp lifted its holdings in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock worth $31,000 after acquiring an additional 43 shares during the last quarter. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $30,000. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $36,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies in the 4th quarter valued at approximately $33,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 0.7 %

Shares of NYSE LHX traded up $1.33 during midday trading on Friday, hitting $206.23. 1,245,205 shares of the company's stock were exchanged, compared to its average volume of 1,351,318. The firm's fifty day simple moving average is $209.05 and its 200-day simple moving average is $228.21. The company has a market cap of $38.84 billion, a PE ratio of 26.20, a P/E/G ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month 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 announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,764 shares of the business's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last ninety days. 0.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on LHX. Sanford C. Bernstein upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Bank of America lowered their target price on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Citigroup cut their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. dropped their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Argus raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target for the company in a research report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $261.47.

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.