SFE Investment Counsel Increases Position in L3Harris Technologies, Inc. (NYSE:LHX)

SFE Investment Counsel increased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,901 shares of the company’s stock after acquiring an additional 122 shares during the period. SFE Investment Counsel’s holdings in L3Harris Technologies were worth $4,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. JPMorgan Chase & Co. raised its stake in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during 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 worth $40,580,000 after buying an additional 169,878 shares during the last quarter. Mizuho Markets Americas LLC raised its position in L3Harris Technologies by 25.3% during 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 during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of L3Harris Technologies in the 3rd quarter valued at $35,904,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of L3Harris Technologies by 156.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock valued at $35,259,000 after acquiring an additional 90,370 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 3.0 %

LHX stock opened at $200.48 on Thursday. L3Harris Technologies, Inc. has a 12-month low of $199.56 and a 12-month high of $265.74. The business’s 50-day moving average is $214.80 and its 200 day moving average is $230.55. 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 stock has a market cap of $38.03 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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 return on equity of 13.11% and a net margin of 7.04%. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research reports. Citigroup decreased 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. Susquehanna lowered their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Bank of America lowered their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $262.67.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 4,901 shares of company stock valued at $1,059,757 in the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

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.