Zullo Investment Group Inc. Increases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Zullo Investment Group Inc. lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,717 shares of the company’s stock after acquiring an additional 54 shares during the quarter. Zullo Investment Group Inc.’s holdings in L3Harris Technologies were worth $361,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LHX. Archer Investment Corp increased its position in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Roxbury Financial LLC bought a new position in L3Harris Technologies during the fourth quarter valued at about $30,000. Kennebec Savings Bank purchased a new stake in L3Harris Technologies during the third quarter worth about $36,000. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies in the fourth quarter worth about $33,000. Finally, New Millennium Group LLC boosted its stake in L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after acquiring an additional 163 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 4,901 shares of company stock worth $1,059,757. 0.87% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $194.80 on Thursday. The stock’s 50-day simple moving average is $211.28 and its two-hundred day simple moving average is $229.48. L3Harris Technologies, Inc. has a twelve month low of $194.25 and a twelve month high of $265.74. The firm has a market capitalization of $36.95 billion, a P/E ratio of 24.75, a P/E/G ratio of 2.43 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping 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%. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Citigroup reduced their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $262.67.

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.