Perigon Wealth Management LLC Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Perigon Wealth Management LLC lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 210.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,645 shares of the company's stock after acquiring an additional 5,186 shares during the period. Perigon Wealth Management LLC's holdings in L3Harris Technologies were worth $1,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock valued at $184,245,000 after purchasing an additional 178,407 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of L3Harris Technologies by 23,627.0% in the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company's stock valued at $40,580,000 after purchasing an additional 169,878 shares in the last quarter. Mizuho Markets Americas LLC boosted its position in shares of L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock valued at $195,704,000 after buying an additional 166,262 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in L3Harris Technologies during the third quarter worth $35,904,000. Finally, Rockefeller Capital Management L.P. raised its position in L3Harris Technologies by 156.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company's stock valued at $35,259,000 after buying an additional 90,370 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

NYSE LHX opened at $212.12 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $40.23 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The firm's 50-day simple moving average is $222.57 and its two-hundred day simple moving average is $232.71.

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 net margin of 5.71% and a return on equity of 13.11%. Research analysts predict that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LHX. Royal Bank of Canada lifted their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a "sector perform" rating in a report on Monday, October 28th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and cut their price target for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Raymond James lowered shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. Barclays cut their target price on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Finally, Bank of America raised L3Harris Technologies from a "neutral" rating to a "buy" rating and increased their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $271.07.

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.