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

Otter Creek Advisors LLC lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1,140.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,366 shares of the company’s stock after acquiring an additional 21,482 shares during the period. L3Harris Technologies makes up 3.4% of Otter Creek Advisors LLC’s portfolio, making the stock its 13th largest position. Otter Creek Advisors LLC’s holdings in L3Harris Technologies were worth $4,913,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $27,000. Archer Investment Corp raised its position 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 purchasing an additional 43 shares during the period. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $30,000. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth $36,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth about $33,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

NYSE LHX opened at $202.28 on Thursday. The company has a fifty day moving average of $209.31 and a two-hundred day moving average of $228.53. The company has a market capitalization of $38.09 billion, a PE ratio of 25.70, a P/E/G ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 4,901 shares of company stock worth $1,059,757. Insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent analyst reports. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. UBS Group boosted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Citigroup cut their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Morgan Stanley reduced their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $261.47.

L3Harris Technologies 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.