Spring Capital Management LLC Acquires 3,258 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Spring Capital Management LLC boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,221 shares of the company's stock after purchasing an additional 3,258 shares during the period. L3Harris Technologies comprises about 3.2% of Spring Capital Management LLC's holdings, making the stock its 15th largest holding. Spring Capital Management LLC's holdings in L3Harris Technologies were worth $5,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in LHX. Geode Capital Management LLC raised its holdings in L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company's stock valued at $1,122,630,000 after buying an additional 59,008 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company's stock valued at $485,215,000 after acquiring an additional 27,763 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock worth $366,875,000 after purchasing an additional 85,882 shares during the period. Raymond James & Associates grew its stake in shares of L3Harris Technologies by 3.0% in the third 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 increased its holdings in L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock valued at $195,704,000 after purchasing an additional 166,262 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company's stock in a transaction 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 sale, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on LHX shares. Bank of America raised L3Harris Technologies from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reduced their target price on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. Royal Bank of Canada raised their price target 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. Truist Financial reduced their price objective on shares of L3Harris Technologies from $300.00 to $283.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered their target price on shares of L3Harris Technologies from $270.00 to $265.00 and set an "overweight" rating for the company in a research note on Thursday. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average target price of $266.19.

L3Harris Technologies Stock Down 0.1 %

L3Harris Technologies stock traded down $0.26 during mid-day trading on Friday, reaching $218.22. The stock had a trading volume of 778,308 shares, compared to its average volume of 939,366. The firm 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. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The stock's 50-day simple moving average is $227.28 and its 200-day simple moving average is $233.03. 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 (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during 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%. L3Harris Technologies's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.19 EPS. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.07 EPS for the current fiscal year.

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.