Raleigh Capital Management Inc. Buys 404 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Raleigh Capital Management Inc. increased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 33.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,594 shares of the company’s stock after purchasing an additional 404 shares during the period. Raleigh Capital Management Inc.’s holdings in L3Harris Technologies were worth $335,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Archer Investment Corp grew its holdings in shares of 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 buying an additional 43 shares during the last quarter. Kennebec Savings Bank bought a new position in L3Harris Technologies in the 3rd quarter valued at approximately $36,000. Trust Co. of Vermont increased its holdings in shares of L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after purchasing an additional 86 shares in the last quarter. MCF Advisors LLC raised its stake in shares of L3Harris Technologies by 84.0% in the fourth quarter. MCF Advisors LLC now owns 241 shares of the company’s stock worth $51,000 after purchasing an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of L3Harris Technologies during the third quarter valued at $64,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 7,889 shares of company stock worth $1,800,572 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on LHX shares. JPMorgan Chase & Co. lowered their target price on shares of L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Susquehanna dropped their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Truist Financial decreased their target price on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $266.19.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $219.79 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The company’s 50 day moving average is $224.75 and its 200 day moving average is $232.95. The company has a market cap of $41.69 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 1.78 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion for 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%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.19 EPS. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.07 EPS for the current year.

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.