Venturi Wealth Management LLC Acquires 3,762 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Venturi Wealth Management LLC boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 764.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,254 shares of the company's stock after purchasing an additional 3,762 shares during the period. Venturi Wealth Management LLC's holdings in L3Harris Technologies were worth $895,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. KCM Investment Advisors LLC increased its holdings in L3Harris Technologies by 43.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock valued at $4,584,000 after purchasing an additional 5,868 shares in the last quarter. Fortem Financial Group LLC acquired a new stake in shares of L3Harris Technologies during the third quarter valued at about $841,000. Czech National Bank grew its stake in shares of L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company's stock valued at $8,648,000 after acquiring an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of 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 in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock valued at $52,395,000 after acquiring an additional 4,321 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the company's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares in the company, 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 this link. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 over the last ninety days. Corporate insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LHX shares. Susquehanna lowered their target price on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Citigroup reduced their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $262.67.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded up $1.90 on Friday, hitting $199.13. 1,656,475 shares of the company were exchanged, compared to its average volume of 1,357,222. The firm has a market capitalization of $37.50 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 2.39 and a beta of 0.76. The company's 50 day moving average price is $210.74 and its two-hundred day moving average price is $229.26. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. Research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

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.