Tectonic Advisors LLC Grows Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Tectonic Advisors LLC increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 10.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,417 shares of the company’s stock after acquiring an additional 232 shares during the period. Tectonic Advisors LLC’s holdings in L3Harris Technologies were worth $508,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings 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 boosted its stake in L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after buying an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after acquiring an additional 85,882 shares during the last quarter. Raymond James & Associates raised its stake in shares of L3Harris Technologies by 3.0% in the 3rd 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 lifted 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 last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $208.89 on Thursday. The company has a market cap of $39.62 billion, a P/E ratio of 26.54, a PEG ratio of 1.74 and a beta of 0.76. The firm has a fifty day moving average price of $219.26 and a 200 day moving average price of $231.83. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts predict 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 1,764 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 4,901 shares of company stock worth $1,059,757 over the last three months. Insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LHX. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company cut 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. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Bank of America dropped their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, UBS Group raised their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $263.07.

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.