Salvus Wealth Management LLC Makes New $317,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Salvus Wealth Management LLC bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,506 shares of the company's stock, valued at approximately $317,000.

Other large investors also recently made changes to their positions in the company. Archer Investment Corp boosted its position in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after buying an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new stake in L3Harris Technologies in the third quarter worth about $36,000. Ashton Thomas Securities LLC bought a new stake in L3Harris Technologies during the 3rd quarter worth about $64,000. Armstrong Advisory Group Inc. lifted its position in L3Harris Technologies by 1,660.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company's stock valued at $74,000 after purchasing an additional 332 shares during the period. Finally, Quest Partners LLC boosted its stake in shares of L3Harris Technologies by 36,000.0% in the 3rd quarter. Quest Partners LLC now owns 361 shares of the company's stock valued at $86,000 after purchasing an additional 360 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

LHX stock traded down $0.26 during trading hours on Friday, reaching $218.22. The stock had a trading volume of 778,308 shares, compared to its average volume of 1,157,837. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a market capitalization of $41.39 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. The stock has a 50-day simple moving average of $228.12 and a 200 day simple moving average of $232.99.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.19 earnings per share. Analysts predict that L3Harris Technologies, Inc. will post 13.07 EPS for the current fiscal year.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction dated 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. The trade was a 21.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 7,889 shares of company stock worth $1,800,572. Corporate insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on LHX shares. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a report on Monday, October 28th. Wolfe Research upgraded shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 price objective for the company in a research report on Thursday, October 10th. Sanford C. Bernstein upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and reduced their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Finally, Citigroup increased their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $266.19.

About L3Harris Technologies

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.