Sanctuary Advisors LLC Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Sanctuary Advisors LLC grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,025 shares of the company’s stock after buying an additional 391 shares during the period. Sanctuary Advisors LLC’s holdings in L3Harris Technologies were worth $6,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in LHX. Roxbury Financial LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth approximately $30,000. Archer Investment Corp lifted its position in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $33,000. Kennebec Savings Bank acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at $36,000. Finally, New Millennium Group LLC grew its position in shares of L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after buying an additional 163 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 4,901 shares of company stock worth $1,059,757 over the last 90 days. Company insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of several research analyst reports. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Truist Financial decreased their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Barclays cut their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Stock Performance

NYSE LHX opened at $194.80 on Thursday. 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 business’s 50 day moving average is $211.28 and its two-hundred day moving average is $229.48. The stock has a market capitalization of $36.95 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 2.43 and a beta of 0.76. L3Harris Technologies, Inc. has a 12-month low of $194.25 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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%. Research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

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.