Peterson Wealth Services Acquires 153 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Peterson Wealth Services lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,709 shares of the company’s stock after acquiring an additional 153 shares during the period. Peterson Wealth Services’ holdings in L3Harris Technologies were worth $359,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Archer Investment Corp boosted its stake in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of L3Harris Technologies during the 4th quarter worth about $33,000. Kennebec Savings Bank bought a new position in L3Harris Technologies during the 3rd quarter valued at about $36,000. New Millennium Group LLC raised its position in L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares during the period. Finally, Trust Co. of Vermont lifted its stake in L3Harris Technologies by 78.9% in the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after purchasing an additional 86 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target 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 reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Truist Financial lowered their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Tuesday, November 26th. Finally, UBS Group upped their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Stock Up 1.1 %

NYSE:LHX opened at $208.30 on Tuesday. The company’s 50-day simple moving average is $216.96 and its 200-day simple moving average is $231.17. 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, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The stock has a market capitalization of $39.51 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last announced its 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 net margin of 7.04% and a return on equity of 13.11%. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’s 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 completion of the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 in the last ninety days. 0.82% of the stock is owned by insiders.

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.