Linden Thomas Advisory Services LLC Buys 759 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Linden Thomas Advisory Services LLC lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 7.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,948 shares of the company’s stock after acquiring an additional 759 shares during the period. Linden Thomas Advisory Services LLC’s holdings in L3Harris Technologies were worth $2,302,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Archer Investment Corp grew its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Kennebec Savings Bank bought a new stake in L3Harris Technologies during the third quarter valued at about $36,000. Trust Co. of Vermont boosted its holdings in L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after acquiring an additional 86 shares during the period. MCF Advisors LLC grew its position in shares of L3Harris Technologies by 84.0% in the fourth quarter. MCF Advisors LLC now owns 241 shares of the company’s stock valued at $51,000 after purchasing an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of L3Harris Technologies in the third quarter worth about $64,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 0.5 %

LHX stock opened at $218.64 on Friday. The business’s 50 day moving average is $223.62 and its 200-day moving average is $232.81. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74. The firm has a market cap of $41.47 billion, a P/E ratio of 34.54, a P/E/G ratio of 1.75 and a beta of 0.75.

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

Insiders Place Their Bets

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 7,889 shares of company stock valued at $1,800,572 in the last 90 days. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on LHX. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Citigroup increased their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Royal Bank of Canada upped their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Tuesday, November 26th. Five investment 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $266.19.

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.