Pinnacle Financial Partners Inc Buys 349 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Pinnacle Financial Partners Inc raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 36,072 shares of the company’s stock after purchasing an additional 349 shares during the period. Pinnacle Financial Partners Inc’s holdings in L3Harris Technologies were worth $7,585,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Sigma Planning Corp grew its holdings in L3Harris Technologies by 2.2% during the fourth quarter. Sigma Planning Corp now owns 2,671 shares of the company’s stock valued at $562,000 after purchasing an additional 58 shares during the period. Ipswich Investment Management Co. Inc. grew its holdings in L3Harris Technologies by 2.9% during the fourth quarter. Ipswich Investment Management Co. Inc. now owns 9,145 shares of the company’s stock valued at $1,923,000 after purchasing an additional 255 shares during the period. Cordatus Wealth Management LLC grew its holdings in L3Harris Technologies by 1.0% during the fourth quarter. Cordatus Wealth Management LLC now owns 7,321 shares of the company’s stock valued at $1,539,000 after purchasing an additional 69 shares during the period. Nicholson Wealth Management Group LLC boosted its stake in shares of L3Harris Technologies by 3.5% in the fourth quarter. Nicholson Wealth Management Group LLC now owns 7,060 shares of the company’s stock worth $1,485,000 after acquiring an additional 237 shares during the period. Finally, Citizens National Bank Trust Department boosted its stake in shares of L3Harris Technologies by 1.3% in the fourth quarter. Citizens National Bank Trust Department now owns 5,758 shares of the company’s stock worth $1,211,000 after acquiring an additional 75 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 1.0 %

Shares of LHX stock opened at $199.13 on Friday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $210.26 and its two-hundred day simple moving average is $229.08. The company has a market cap of $37.50 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76.

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

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 over the last ninety days. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LHX. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Bank of America dropped their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. UBS Group upped their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft dropped 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. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $262.67.

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.