Proficio Capital Partners LLC Invests $25.07 Million in L3Harris Technologies, Inc. (NYSE:LHX)

Proficio Capital Partners LLC acquired a new position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 119,229 shares of the company's stock, valued at approximately $25,071,000. Proficio Capital Partners LLC owned approximately 0.06% of L3Harris Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York Life Investment Management LLC boosted its holdings in L3Harris Technologies by 0.8% during the 4th quarter. New York Life Investment Management LLC now owns 25,484 shares of the company's stock valued at $5,359,000 after acquiring an additional 195 shares during the period. National Pension Service boosted its holdings in L3Harris Technologies by 42.1% during the 4th quarter. National Pension Service now owns 606,047 shares of the company's stock valued at $127,440,000 after acquiring an additional 179,539 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies during the 4th quarter valued at about $27,000. Illinois Municipal Retirement Fund boosted its holdings in L3Harris Technologies by 62.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 9,257 shares of the company's stock valued at $1,947,000 after acquiring an additional 3,546 shares during the period. Finally, Commonwealth Retirement Investments LLC boosted its holdings in L3Harris Technologies by 2.1% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 7,277 shares of the company's stock valued at $1,530,000 after acquiring an additional 152 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LHX. Raymond James cut L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Citigroup dropped their price objective on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a report on Monday, February 10th. Morgan Stanley dropped their price objective on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $261.47.

L3Harris Technologies Stock Up 0.7 %

Shares of NYSE:LHX traded up $1.33 on Friday, hitting $206.23. 1,245,205 shares of the company traded hands, compared to its average volume of 1,351,318. The stock has a 50 day simple moving average of $209.05 and a 200-day simple moving average of $228.21. The company has a market cap of $38.84 billion, a PE ratio of 26.20, a PEG ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share 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%. As a group, research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the sale, the insider now owns 6,812 shares of the company's stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 4,901 shares of company stock valued at $1,059,757 over the last 90 days. Corporate insiders own 0.82% of the company's stock.

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.