Strategic Financial Concepts LLC Purchases New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Strategic Financial Concepts LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 48,641 shares of the company's stock, valued at approximately $10,228,000.

Several other large investors have also bought and sold shares of LHX. KCM Investment Advisors LLC increased its holdings in shares of L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock worth $4,584,000 after buying an additional 5,868 shares in the last quarter. Fortem Financial Group LLC bought a new position in L3Harris Technologies during the 3rd quarter worth approximately $841,000. Czech National Bank lifted its position in shares of L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company's stock worth $8,648,000 after purchasing an additional 2,480 shares during the period. JPMorgan Chase & Co. boosted its position in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock valued at $184,245,000 after acquiring an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock valued at $52,395,000 after purchasing an additional 4,321 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

NYSE:LHX traded down $0.90 during mid-day trading on Wednesday, hitting $194.80. 1,509,273 shares of the stock traded hands, compared to its average volume of 1,342,477. The business's 50-day moving average price is $211.97 and its 200 day moving average price is $229.72. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market cap of $36.95 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.43 and a beta of 0.76. L3Harris Technologies, Inc. has a 12-month low of $194.25 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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 return on equity of 13.11% and a net margin of 7.04%. On average, analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now owns 8,576 shares of the company's stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 over the last 90 days. 0.87% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research reports. Argus upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Susquehanna dropped their price objective on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. UBS Group boosted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, Bank of America decreased their price target on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $262.67.

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.