Adell Harriman & Carpenter Inc. Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Adell Harriman & Carpenter Inc. boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 131.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,755 shares of the company’s stock after buying an additional 4,408 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in L3Harris Technologies were worth $1,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LHX. Exchange Traded Concepts LLC raised its stake in shares of L3Harris Technologies by 6,787.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,857 shares of the company’s stock valued at $917,000 after purchasing an additional 3,801 shares during the period. Creative Planning increased its position in shares of L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after buying an additional 512 shares during the period. Kowal Investment Group LLC purchased a new stake in shares of L3Harris Technologies in the third quarter worth about $231,000. Good Life Advisors LLC grew its stake in L3Harris Technologies by 2.9% during the third quarter. Good Life Advisors LLC now owns 8,489 shares of the company’s stock valued at $2,019,000 after acquiring an additional 240 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in L3Harris Technologies by 2.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,869 shares of the company’s stock worth $682,000 after acquiring an additional 73 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of a number of recent analyst reports. Citigroup reduced their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Susquehanna decreased their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $262.67.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $198.02 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $37.56 billion, a PE ratio of 25.16, a PEG ratio of 1.75 and a beta of 0.76. The company’s fifty day moving average is $214.03 and its 200 day moving average is $230.33. L3Harris Technologies, Inc. has a 52 week low of $196.67 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data 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%. Research analysts anticipate that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current year.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares of the company’s stock, valued at $1,917,765.12. This represents a 17.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 4,901 shares of company stock valued at $1,059,757 in the last ninety days. Company insiders own 0.82% of the company’s stock.

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.