Pacer Advisors Inc. Acquires 12,918 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Pacer Advisors Inc. lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 91.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,025 shares of the company's stock after acquiring an additional 12,918 shares during the quarter. Pacer Advisors Inc.'s holdings in L3Harris Technologies were worth $5,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its holdings in L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company's stock worth $1,122,630,000 after purchasing an additional 59,008 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of L3Harris Technologies by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company's stock worth $485,215,000 after acquiring an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock valued at $366,875,000 after acquiring an additional 85,882 shares during the last quarter. Raymond James & Associates lifted its holdings in L3Harris Technologies by 3.0% in the 3rd quarter. Raymond James & Associates now owns 984,888 shares of the company's stock worth $234,275,000 after purchasing an additional 28,882 shares during the last quarter. Finally, Mizuho Markets Americas LLC boosted its position in L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock worth $195,704,000 after purchasing an additional 166,262 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LHX shares. Royal Bank of Canada raised their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a research note on Monday, October 28th. Bank of America upgraded L3Harris Technologies from a "neutral" rating to a "buy" rating and increased their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. JPMorgan Chase & Co. lowered their price objective on shares of L3Harris Technologies from $270.00 to $265.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Finally, Susquehanna cut their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $271.07.

L3Harris Technologies Trading Down 0.1 %

NYSE:LHX traded down $0.20 on Thursday, hitting $211.75. 2,189,351 shares of the stock were exchanged, compared to its average volume of 1,253,714. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The stock has a market capitalization of $40.16 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 1.75 and a beta of 0.75. The company's 50-day moving average price is $221.93 and its 200 day moving average price is $232.57.

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 analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This trade represents 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 link. Insiders sold 7,889 shares of company stock worth $1,800,572 over the last quarter. 0.82% of the stock is currently owned by company insiders.

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.