Fiduciary Alliance LLC Increases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Fiduciary Alliance LLC lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 23.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,458 shares of the company’s stock after buying an additional 473 shares during the quarter. Fiduciary Alliance LLC’s holdings in L3Harris Technologies were worth $517,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies in the third quarter valued at $36,000. Ashton Thomas Securities LLC purchased a new stake in L3Harris Technologies during the third quarter valued at $64,000. Quest Partners LLC lifted its position in L3Harris Technologies by 36,000.0% during the third quarter. Quest Partners LLC now owns 361 shares of the company’s stock valued at $86,000 after purchasing an additional 360 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in L3Harris Technologies by 133.7% during the fourth quarter. Versant Capital Management Inc now owns 472 shares of the company’s stock valued at $99,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $214.65 on Wednesday. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The company has a market capitalization of $40.71 billion, a PE ratio of 33.91, a P/E/G ratio of 1.86 and a beta of 0.75. The company has a 50 day moving average price of $229.70 and a 200-day moving average price of $233.23. 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 (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping 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 business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the business earned $3.19 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 7,889 shares of company stock valued at $1,800,572 over the last three months. 0.82% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on LHX. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, October 10th. Barclays lowered 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. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Finally, Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $265.25.

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.