Private Capital Advisors Inc. Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Private Capital Advisors Inc. increased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 82.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,120 shares of the company’s stock after acquiring an additional 3,220 shares during the quarter. Private Capital Advisors Inc.’s holdings in L3Harris Technologies were worth $1,497,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Oliver Luxxe Assets LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter valued at $3,954,000. McGlone Suttner Wealth Management Inc. raised its holdings in L3Harris Technologies by 21.1% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 1,119 shares of the company’s stock valued at $235,000 after acquiring an additional 195 shares during the period. Brighton Jones LLC lifted its position in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after acquiring an additional 3,001 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of 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 during the period. Finally, Mutual Advisors LLC grew its position in shares of L3Harris Technologies by 2.8% during the fourth quarter. Mutual Advisors LLC now owns 4,518 shares of the company’s stock worth $987,000 after purchasing an additional 123 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

LHX stock opened at $219.79 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74. The stock has a market cap of $41.69 billion, a PE ratio of 34.72, a P/E/G ratio of 1.75 and a beta of 0.75. 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 released its earnings results on Thursday, October 24th. The company reported $3.34 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 firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. The company’s quarterly 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.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LHX shares. Citigroup upped their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note 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 on the stock in a report on Thursday, January 16th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the business’s 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 directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 7,889 shares of company stock valued at $1,800,572 in the last quarter. 0.82% of the stock is owned by insiders.

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.