Stonebridge Financial Group LLC Invests $3.59 Million in L3Harris Technologies, Inc. (NYSE:LHX)

Stonebridge Financial Group LLC bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,056 shares of the company's stock, valued at approximately $3,587,000.

A number of other hedge funds have also made changes to their positions in LHX. CWM LLC raised its position in L3Harris Technologies by 4.7% during the third quarter. CWM LLC now owns 5,954 shares of the company's stock worth $1,416,000 after acquiring an additional 265 shares during the last quarter. Wedmont Private Capital raised its position in L3Harris Technologies by 12.4% during the third quarter. Wedmont Private Capital now owns 1,126 shares of the company's stock worth $272,000 after acquiring an additional 124 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of L3Harris Technologies by 231.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,100 shares of the company's stock worth $262,000 after purchasing an additional 768 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of L3Harris Technologies by 6,787.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,857 shares of the company's stock worth $917,000 after purchasing an additional 3,801 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its position in shares of L3Harris Technologies by 19.7% during the 3rd quarter. CHICAGO TRUST Co NA now owns 2,462 shares of the company's stock worth $586,000 after purchasing an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Trading Down 1.0 %

NYSE:LHX traded down $1.98 on Friday, hitting $198.02. 1,565,377 shares of the stock were exchanged, compared to its average volume of 1,325,132. The stock has a market cap of $37.56 billion, a PE ratio of 25.16, a PEG ratio of 1.75 and a beta of 0.76. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average of $214.03 and a 200-day moving average of $230.33. L3Harris Technologies, Inc. has a fifty-two week low of $196.67 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, equities analysts expect that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now owns 6,812 shares in the company, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 4,901 shares of company stock worth $1,059,757. Corporate insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

LHX has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on L3Harris Technologies from $295.00 to $287.00 and set an "overweight" rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada reissued a "sector perform" rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. Raymond James lowered shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and cut their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.67.

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.