Financial Advocates Investment Management Buys Shares of 1,242 L3Harris Technologies, Inc. (NYSE:LHX)

Financial Advocates Investment Management purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,242 shares of the company’s stock, valued at approximately $261,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Archer Investment Corp raised 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 acquiring an additional 43 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies during the 3rd quarter valued at approximately $36,000. Union Bancaire Privee UBP SA acquired a new position in L3Harris Technologies during the 4th quarter worth approximately $33,000. New Millennium Group LLC lifted its stake in L3Harris Technologies by 776.2% in 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 boosted its position in L3Harris Technologies by 78.9% in the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after buying an additional 86 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

LHX stock opened at $206.05 on Monday. The firm has a market cap of $39.08 billion, a PE ratio of 26.18, 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. The stock has a 50-day moving average price of $216.96 and a 200-day moving average price of $231.21. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 research analysts expect that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Tuesday, November 26th. Barclays reduced their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Susquehanna dropped their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Bank of America reduced their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $263.07.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the sale, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last quarter. Company 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.