Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 513 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 56.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,414 shares of the company’s stock after acquiring an additional 513 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in L3Harris Technologies were worth $297,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares during the last quarter. International Assets Investment Management LLC lifted its position in L3Harris Technologies by 23,627.0% in the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after acquiring an additional 169,878 shares in the last quarter. Mizuho Markets Americas LLC boosted its stake in 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 purchasing an additional 166,262 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth $35,904,000. Finally, Rockefeller Capital Management L.P. raised its stake in shares of L3Harris Technologies by 156.2% in the third quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock worth $35,259,000 after purchasing an additional 90,370 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 7,889 shares of company stock worth $1,800,572. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Down 0.1 %

Shares of LHX opened at $211.75 on Friday. The firm has a market cap of $40.16 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. 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, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The company has a 50 day simple moving average of $221.93 and a two-hundred day simple moving average of $232.57.

L3Harris Technologies (NYSE:LHX) last announced its quarterly 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 net margin of 5.71% and a return on equity of 13.11%. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LHX shares. Citigroup increased their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. 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 note on Thursday, January 16th. Royal Bank of Canada increased their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Susquehanna cut their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Truist Financial lowered their price target on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $271.07.

L3Harris Technologies Company 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.