Gemmer Asset Management LLC Purchases 75 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Gemmer Asset Management LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,718 shares of the company’s stock after purchasing an additional 75 shares during the quarter. Gemmer Asset Management LLC’s holdings in L3Harris Technologies were worth $1,623,000 as of its most recent SEC filing.

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

L3Harris Technologies Stock Down 0.1 %

Shares of NYSE LHX opened at $218.22 on Monday. The stock has a market capitalization of $41.39 billion, a P/E ratio of 34.47, a PEG ratio of 1.68 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 one year low of $200.18 and a one year high of $265.74. The firm’s 50 day simple moving average is $227.28 and its two-hundred day simple moving average is $233.03.

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

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred 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 sale, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Analysts Forecast Growth

Several equities research analysts have recently issued reports on LHX shares. JPMorgan Chase & Co. decreased their target price on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Susquehanna reduced 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. Royal Bank of Canada lifted their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $266.19.

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.