Strategic Financial Concepts LLC Invests $10.23 Million in L3Harris Technologies, Inc. (NYSE:LHX)

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

Other large investors have also added to or reduced their stakes in the company. Archer Investment Corp increased its position in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $33,000. Kennebec Savings Bank bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at approximately $36,000. New Millennium Group LLC increased its position in shares of L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company's stock valued at $39,000 after purchasing an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont increased its position in shares of L3Harris Technologies by 78.9% during the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company's stock valued at $41,000 after purchasing an additional 86 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Down 3.0 %

Shares of LHX traded down $6.27 during trading hours on Wednesday, hitting $200.48. The company had a trading volume of 1,694,477 shares, compared to its average volume of 1,287,359. The company has a market capitalization of $38.03 billion, a PE ratio of 25.47, a price-to-earnings-growth 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. L3Harris Technologies, Inc. has a one year low of $199.56 and a one year high of $265.74. The company's fifty day moving average price is $215.60 and its two-hundred day moving average price is $230.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping 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%. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LHX. JPMorgan Chase & Co. cut their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. StockNews.com upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a report on Thursday, January 2nd. Raymond James cut L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $262.67.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 4,901 shares of company stock valued at $1,059,757 in the last ninety days. Corporate insiders own 0.82% of the company's stock.

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.