Claro Advisors LLC Acquires Shares of 1,144 L3Harris Technologies, Inc. (NYSE:LHX)

Claro Advisors LLC bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, Holdings Channel reports. The institutional investor bought 1,144 shares of the company’s stock, valued at approximately $241,000.

A number of other hedge funds have also recently bought and sold shares of the company. KCM Investment Advisors LLC boosted its position in L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares during the last quarter. Fortem Financial Group LLC bought a new position in L3Harris Technologies during the third quarter worth about $841,000. Sanctuary Advisors LLC grew its stake in L3Harris Technologies by 13.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after buying an additional 3,740 shares in the last quarter. Czech National Bank grew its position in shares of L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after purchasing an additional 2,480 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction on Monday, December 16th. The stock was 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 $1,917,765.12. The trade was a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $214.03 on Thursday. The company has a market capitalization of $40.59 billion, a PE ratio of 33.81, a PEG ratio of 1.86 and a beta of 0.75. The business has a fifty day moving average price of $229.70 and a 200-day moving average price of $233.23. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the previous year, the company earned $3.19 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LHX. Barclays decreased their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Wells Fargo & Company dropped their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Truist Financial dropped their price target on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Five 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, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $265.25.

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.