L3Harris Technologies, Inc. (NYSE:LHX) is M. Kraus & Co’s 5th Largest Position

M. Kraus & Co lowered its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% during the fourth quarter, Holdings Channel reports. The fund owned 50,996 shares of the company’s stock after selling 662 shares during the quarter. L3Harris Technologies makes up 3.2% of M. Kraus & Co’s holdings, making the stock its 5th largest holding. M. Kraus & Co’s holdings in L3Harris Technologies were worth $10,723,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Archer Investment Corp boosted its holdings in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies in the third quarter worth about $36,000. Ashton Thomas Securities LLC acquired a new stake in L3Harris Technologies during the third quarter worth about $64,000. Quest Partners LLC lifted its holdings in L3Harris Technologies by 36,000.0% in the third quarter. Quest Partners LLC now owns 361 shares of the company’s stock valued at $86,000 after acquiring an additional 360 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of L3Harris Technologies by 133.7% during the 4th quarter. Versant Capital Management Inc now owns 472 shares of the company’s stock valued at $99,000 after purchasing an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LHX. Susquehanna decreased their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report 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 stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $265.25.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now owns 10,340 shares in the company, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 7,889 shares of company stock worth $1,800,572. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $214.65 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The company’s 50 day simple moving average is $229.70 and its 200-day simple moving average is $233.23. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The firm has a market cap of $40.71 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share 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 analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $3.19 EPS. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

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.