L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Sara Bay Financial

Sara Bay Financial raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,262 shares of the company’s stock after buying an additional 125 shares during the quarter. Sara Bay Financial’s holdings in L3Harris Technologies were worth $264,000 at the end of the most recent quarter.

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

L3Harris Technologies Stock Down 0.1 %

Shares of LHX traded down $0.26 during mid-day trading on Friday, reaching $218.22. The company’s stock had a trading volume of 778,308 shares, compared to its average volume of 939,366. The business has a fifty day moving average of $228.12 and a 200 day moving average of $232.99. The company has a market cap of $41.39 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. L3Harris Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $3.19 earnings per share. As a group, analysts forecast that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LHX shares. Barclays decreased their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Finally, Truist Financial decreased their price objective on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $266.19.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. The trade was a 22.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 7,889 shares of company stock valued at $1,800,572 over the last three months. 0.87% of the stock is currently owned by insiders.

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.