Brown Financial Advisors Acquires 91 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Brown Financial Advisors lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,962 shares of the company’s stock after purchasing an additional 91 shares during the period. Brown Financial Advisors’ holdings in L3Harris Technologies were worth $413,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in LHX. Blue Trust Inc. raised its stake in shares of L3Harris Technologies by 96.7% during the third quarter. Blue Trust Inc. now owns 653 shares of the company’s stock valued at $147,000 after acquiring an additional 321 shares in the last quarter. International Assets Investment Management LLC raised its position in L3Harris Technologies by 23,627.0% during the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after purchasing an additional 169,878 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of L3Harris Technologies by 38.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,622 shares of the company’s stock worth $2,966,000 after buying an additional 3,521 shares during the period. Modera Wealth Management LLC grew its position in shares of L3Harris Technologies by 2.9% during the 3rd quarter. Modera Wealth Management LLC now owns 6,666 shares of the company’s stock worth $1,586,000 after buying an additional 190 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of L3Harris Technologies by 6.9% during the third quarter. State of Alaska Department of Revenue now owns 22,038 shares of the company’s stock valued at $5,242,000 after buying an additional 1,415 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.4 %

Shares of L3Harris Technologies stock opened at $199.89 on Tuesday. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The firm’s 50 day simple moving average is $209.82 and its two-hundred day simple moving average is $228.88. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $37.64 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 2.42 and a beta of 0.76.

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

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the sale, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This represents a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 4,901 shares of company stock valued at $1,059,757. Company insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LHX. Barclays dropped their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Finally, Susquehanna lowered their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

L3Harris Technologies Company 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.