Atlas Legacy Advisors LLC Buys New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Atlas Legacy Advisors LLC bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 974 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after buying an additional 59,008 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after buying an additional 85,882 shares in the last quarter. Mizuho Markets Americas LLC lifted its holdings in L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after buying an additional 166,262 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in L3Harris Technologies by 4.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 455,095 shares of the company’s stock worth $108,253,000 after buying an additional 20,808 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the transaction, the insider now directly owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 4,901 shares of company stock worth $1,059,757. 0.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on LHX shares. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Truist Financial dropped their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Citigroup dropped their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Morgan Stanley dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group boosted their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $262.67.

L3Harris Technologies Stock Down 0.5 %

LHX stock opened at $194.80 on Thursday. L3Harris Technologies, Inc. has a 12 month low of $194.25 and a 12 month high of $265.74. The firm has a market cap of $36.95 billion, a PE ratio of 24.75, a P/E/G ratio of 2.43 and a beta of 0.76. The firm has a 50 day simple moving average of $211.28 and a 200 day simple moving average of $229.48. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal 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.