Bennett Associates Wealth Management Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

Bennett Associates Wealth Management boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,436 shares of the company’s stock after buying an additional 77 shares during the period. Bennett Associates Wealth Management’s holdings in L3Harris Technologies were worth $302,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the period. Kennebec Savings Bank bought a new stake in L3Harris Technologies in the 3rd quarter worth $36,000. Ashton Thomas Securities LLC purchased a new position in shares of L3Harris Technologies in the third quarter valued at about $64,000. Armstrong Advisory Group Inc. raised its stake in shares of L3Harris Technologies by 1,660.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company’s stock valued at $74,000 after acquiring an additional 332 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in L3Harris Technologies by 36,000.0% during the 3rd quarter. Quest Partners LLC now owns 361 shares of the company’s stock valued at $86,000 after purchasing an additional 360 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on LHX. JPMorgan Chase & Co. lowered their price target on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.19.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred 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 sale, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 7,889 shares of company stock worth $1,800,572. 0.87% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

LHX opened at $218.26 on Friday. The company has a 50 day simple moving average of $228.85 and a two-hundred day simple moving average of $233.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market cap of $41.40 billion, a P/E ratio of 34.48, a PEG ratio of 1.68 and a beta of 0.75. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during 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%. L3Harris Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.19 EPS. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

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.