L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Optas LLC

Optas LLC raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 17.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,627 shares of the company’s stock after purchasing an additional 245 shares during the quarter. Optas LLC’s holdings in L3Harris Technologies were worth $342,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Archer Investment Corp boosted its holdings in L3Harris Technologies by 48.9% in 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 last quarter. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies in the 3rd quarter worth about $36,000. Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at about $33,000. New Millennium Group LLC grew its holdings in shares of L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares during the period. Finally, Trust Co. of Vermont increased its position in L3Harris Technologies by 78.9% during 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. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $210.85 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The firm’s 50-day simple moving average is $219.96 and its 200-day simple moving average is $232.00. The firm has a market cap of $39.99 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.74 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.8 earnings per share for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 over the last 90 days. Insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Tuesday, November 26th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, UBS Group boosted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $263.07.

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.