McGlone Suttner Wealth Management Inc. Acquires 195 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

McGlone Suttner Wealth Management Inc. increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 21.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,119 shares of the company’s stock after acquiring an additional 195 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in L3Harris Technologies were worth $235,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in 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 purchasing an additional 3,001 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake in L3Harris Technologies by 33.9% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,594 shares of the company’s stock valued at $335,000 after purchasing an additional 404 shares during the last quarter. Mutual Advisors LLC lifted its stake in L3Harris Technologies by 2.8% in the fourth quarter. Mutual Advisors LLC now owns 4,518 shares of the company’s stock valued at $987,000 after purchasing an additional 123 shares during the last quarter. Asset Planning Services Inc. LA ADV lifted its stake in L3Harris Technologies by 2.2% in the fourth quarter. Asset Planning Services Inc. LA ADV now owns 23,270 shares of the company’s stock valued at $4,893,000 after purchasing an additional 500 shares during the last quarter. Finally, Traynor Capital Management Inc. lifted its stake in L3Harris Technologies by 17.1% in the fourth quarter. Traynor Capital Management Inc. now owns 39,874 shares of the company’s stock valued at $8,385,000 after purchasing an additional 5,825 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Down 0.5 %

NYSE LHX opened at $218.64 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a market capitalization of $41.47 billion, a PE ratio of 34.54, a PEG ratio of 1.75 and a beta of 0.75. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The business’s 50-day moving average is $224.18 and its 200 day moving average is $232.86.

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

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 7,889 shares of company stock valued at $1,800,572 over the last ninety days. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on LHX. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Susquehanna dropped their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Citigroup increased their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $266.19.

About L3Harris Technologies

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.