Harel Insurance Investments & Financial Services Ltd. Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Harel Insurance Investments & Financial Services Ltd. boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 51.9% in the 4th quarter, Holdings Channel reports. The firm owned 14,320 shares of the company’s stock after purchasing an additional 4,890 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in L3Harris Technologies were worth $3,011,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Encompass More Asset Management raised its holdings in shares of L3Harris Technologies by 14.0% in the 4th quarter. Encompass More Asset Management now owns 2,449 shares of the company’s stock valued at $515,000 after buying an additional 301 shares during the period. Private Capital Advisors Inc. lifted its position in shares of L3Harris Technologies by 82.6% during the fourth quarter. Private Capital Advisors Inc. now owns 7,120 shares of the company’s stock worth $1,497,000 after purchasing an additional 3,220 shares in the last quarter. Oliver Luxxe Assets LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $3,954,000. McGlone Suttner Wealth Management Inc. increased its stake in L3Harris Technologies by 21.1% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 1,119 shares of the company’s stock worth $235,000 after buying an additional 195 shares during the period. Finally, Brighton Jones LLC lifted its holdings in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after buying an additional 3,001 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $218.64 on Friday. The firm has a fifty day moving average of $224.18 and a 200-day moving average of $232.86. The company has a market cap of $41.47 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the firm earned $3.19 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

Analysts Set New Price Targets

LHX has been the subject of several research reports. Citigroup boosted their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays decreased their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.19.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. The trade was a 17.06 % 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 this hyperlink. Insiders have sold 7,889 shares of company stock worth $1,800,572 over the last quarter. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies 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.