Daymark Wealth Partners LLC Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Daymark Wealth Partners LLC grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.3% in the 4th quarter, Holdings Channel reports. The fund owned 26,479 shares of the company’s stock after acquiring an additional 92 shares during the period. Daymark Wealth Partners LLC’s holdings in L3Harris Technologies were worth $5,568,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after acquiring an additional 59,008 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of L3Harris Technologies by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after buying an additional 27,763 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after purchasing an additional 85,882 shares during the period. Raymond James & Associates boosted its holdings in shares of L3Harris Technologies by 3.0% during the third quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock valued at $234,275,000 after acquiring an additional 28,882 shares during the period. Finally, Mizuho Markets Americas LLC increased its holdings in shares of L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after acquiring an additional 166,262 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 2.2 %

Shares of LHX stock opened at $222.95 on Wednesday. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a fifty day moving average price of $225.58 and a 200 day moving average price of $233.04. The stock has a market cap of $42.29 billion, a P/E ratio of 35.22, a price-to-earnings-growth ratio of 1.74 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last announced its quarterly 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 firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 earnings per share. Analysts predict that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LHX shares. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Citigroup upped their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, Barclays reduced their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $266.19.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 7,889 shares of company stock valued at $1,800,572. Insiders own 0.87% of the company’s stock.

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.