L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 29.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,308 shares of the company’s stock after acquiring an additional 297 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in L3Harris Technologies were worth $275,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after purchasing an additional 59,008 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in L3Harris Technologies by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after purchasing an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of L3Harris Technologies by 5.9% in 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 buying an additional 85,882 shares in the last quarter. Raymond James & Associates raised its stake in shares of L3Harris Technologies by 3.0% during the 3rd quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock worth $234,275,000 after buying an additional 28,882 shares during the period. Finally, Mizuho Markets Americas LLC lifted its position in shares of L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after buying an additional 166,262 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $222.95 on Wednesday. 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 company has a market capitalization of $42.29 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 1.74 and a beta of 0.75. The firm’s 50-day moving average is $226.36 and its two-hundred day moving average is $233.05. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.19 EPS. Analysts predict that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 7,889 shares of company stock valued at $1,800,572 in the last quarter. Insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. reduced their price target on shares of L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a report on Thursday, October 10th. Finally, Barclays lowered their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.19.

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.