Tower Bridge Advisors Has $4.52 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Tower Bridge Advisors increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,483 shares of the company’s stock after purchasing an additional 172 shares during the period. Tower Bridge Advisors’ holdings in L3Harris Technologies were worth $4,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KCM Investment Advisors LLC boosted its stake in L3Harris Technologies by 43.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares during the period. Fortem Financial Group LLC acquired a new position in L3Harris Technologies in the 3rd quarter worth $841,000. Czech National Bank boosted its stake in L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after purchasing an additional 2,480 shares during the period. JPMorgan Chase & Co. boosted its stake in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the company’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 transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 4,901 shares of company stock worth $1,059,757. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LHX shares. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Citigroup cut their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.47.

L3Harris Technologies Stock Up 0.7 %

Shares of LHX stock opened at $206.23 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm’s 50-day moving average is $209.05 and its 200-day moving average is $228.21. The stock has a market cap of $38.84 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

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.