Griffin Asset Management Inc. Acquires 146 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Griffin Asset Management Inc. raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,803 shares of the company’s stock after purchasing an additional 146 shares during the period. Griffin Asset Management Inc.’s holdings in L3Harris Technologies were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Archer Investment Corp lifted its stake in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies during the 4th quarter valued at $33,000. Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies in the third quarter valued at about $36,000. Trust Co. of Vermont raised its holdings in shares of L3Harris Technologies by 78.9% in the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after acquiring an additional 86 shares in the last quarter. Finally, MCF Advisors LLC lifted its stake in L3Harris Technologies by 84.0% in the fourth quarter. MCF Advisors LLC now owns 241 shares of the company’s stock worth $51,000 after acquiring an additional 110 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Up 1.7 %

LHX opened at $222.31 on Tuesday. The firm has a market capitalization of $42.16 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. The company’s 50 day simple moving average is $223.62 and its two-hundred day simple moving average is $232.90. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on LHX shares. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Truist Financial reduced their price objective on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Barclays cut their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Susquehanna decreased their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their target price for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to 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.