Janney Montgomery Scott LLC Acquires 7,934 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Janney Montgomery Scott LLC lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 158,874 shares of the company’s stock after purchasing an additional 7,934 shares during the quarter. Janney Montgomery Scott LLC owned 0.08% of L3Harris Technologies worth $33,408,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LHX. AE Wealth Management LLC grew its holdings in shares of L3Harris Technologies by 64.0% in the 2nd quarter. AE Wealth Management LLC now owns 2,772 shares of the company’s stock worth $623,000 after purchasing an additional 1,082 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of L3Harris Technologies by 8.6% in the 2nd quarter. ProShare Advisors LLC now owns 26,202 shares of the company’s stock worth $5,884,000 after purchasing an additional 2,075 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of L3Harris Technologies by 72.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,208 shares of the company’s stock worth $1,619,000 after purchasing an additional 3,032 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of L3Harris Technologies by 12.5% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,396 shares of the company’s stock worth $314,000 after purchasing an additional 155 shares during the last quarter. Finally, Insigneo Advisory Services LLC grew its holdings in shares of L3Harris Technologies by 6.0% in the 2nd quarter. Insigneo Advisory Services LLC now owns 2,725 shares of the company’s stock worth $619,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $219.79 on Friday. The business has a 50 day simple moving average of $224.75 and a 200 day simple moving average of $232.95. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market cap of $41.69 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 1.78 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the business earned $3.19 EPS. L3Harris Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts anticipate that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the 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 completion of the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LHX. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Thursday, October 10th. Citigroup increased their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Finally, Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $266.19.

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.