Traynor Capital Management Inc. Has $8.39 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Traynor Capital Management Inc. grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,874 shares of the company’s stock after purchasing an additional 5,825 shares during the quarter. L3Harris Technologies makes up approximately 0.6% of Traynor Capital Management Inc.’s portfolio, making the stock its 29th largest holding. Traynor Capital Management Inc.’s holdings in L3Harris Technologies were worth $8,385,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of LHX. Archer Investment Corp boosted its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the period. Kennebec Savings Bank bought a new stake in L3Harris Technologies during the 3rd quarter valued at approximately $36,000. Trust Co. of Vermont grew its holdings in L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after buying an additional 86 shares during the last quarter. MCF Advisors LLC lifted its holdings in shares of L3Harris Technologies by 84.0% during the fourth quarter. MCF Advisors LLC now owns 241 shares of the company’s stock worth $51,000 after buying an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of L3Harris Technologies in the third quarter valued at approximately $64,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LHX shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Citigroup increased their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Finally, Susquehanna cut their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $266.19.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the transaction, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 7,889 shares of company stock worth $1,800,572. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $220.02 on Thursday. 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, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The company has a market cap of $41.73 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 1.78 and a beta of 0.75. The stock has a fifty day moving average price of $225.58 and a 200-day moving average price of $233.04.

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

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.