Raleigh Capital Management Inc. Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Raleigh Capital Management Inc. grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 33.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,594 shares of the company’s stock after acquiring an additional 404 shares during the period. Raleigh Capital Management Inc.’s holdings in L3Harris Technologies were worth $335,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in LHX. Archer Investment Corp boosted its position in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. Kennebec Savings Bank acquired a new position in L3Harris Technologies during the 3rd quarter worth about $36,000. Trust Co. of Vermont boosted its holdings in L3Harris Technologies by 78.9% during the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after acquiring an additional 86 shares during the period. MCF Advisors LLC grew its position in L3Harris Technologies by 84.0% in the 4th quarter. MCF Advisors LLC now owns 241 shares of the company’s stock valued at $51,000 after acquiring an additional 110 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in L3Harris Technologies during the third quarter worth about $64,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 7,889 shares of company stock valued at $1,800,572. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LHX. Truist Financial decreased their price target on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Royal Bank of Canada upped their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target 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. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $266.19.

L3Harris Technologies Trading Down 0.1 %

NYSE:LHX opened at $219.79 on Friday. The stock has a market cap of $41.69 billion, a price-to-earnings ratio of 34.72, a price-to-earnings-growth ratio of 1.78 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The business’s 50-day simple moving average is $224.75 and its 200 day simple moving average is $232.95. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $3.19 earnings per share. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

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.