Encompass More Asset Management Raises Position in L3Harris Technologies, Inc. (NYSE:LHX)

Encompass More Asset Management raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 14.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,449 shares of the company’s stock after acquiring an additional 301 shares during the period. Encompass More Asset Management’s holdings in L3Harris Technologies were worth $515,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LHX. Private Capital Advisors Inc. increased its position in shares of L3Harris Technologies by 82.6% in the fourth quarter. Private Capital Advisors Inc. now owns 7,120 shares of the company’s stock worth $1,497,000 after purchasing an additional 3,220 shares during the last quarter. Oliver Luxxe Assets LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth $3,954,000. McGlone Suttner Wealth Management Inc. raised its position in shares of L3Harris Technologies by 21.1% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 1,119 shares of the company’s stock valued at $235,000 after buying an additional 195 shares in the last quarter. Brighton Jones LLC grew its position in L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its position in L3Harris Technologies by 33.9% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,594 shares of the company’s stock worth $335,000 after acquiring an additional 404 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

NYSE LHX opened at $219.49 on Friday. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The firm has a market capitalization of $41.63 billion, a P/E ratio of 34.68, a PEG ratio of 1.75 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $224.75 and a 200-day moving average price of $232.95.

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

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 7,889 shares of company stock worth $1,800,572 over the last three months. 0.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on LHX shares. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Royal Bank of Canada lifted their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Finally, Citigroup lifted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Five research 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, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $266.19.

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.