L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Novare Capital Management LLC

Novare Capital Management LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,934 shares of the company’s stock after acquiring an additional 2,688 shares during the period. Novare Capital Management LLC’s holdings in L3Harris Technologies were worth $9,659,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Public Sector Pension Investment Board boosted its stake in shares of L3Harris Technologies by 72.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 7,208 shares of the company’s stock worth $1,619,000 after acquiring an additional 3,032 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in L3Harris Technologies by 12.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,396 shares of the company’s stock valued at $314,000 after buying an additional 155 shares during the last quarter. AXA S.A. acquired a new stake in L3Harris Technologies during the 2nd quarter valued at $292,000. AQR Capital Management LLC raised its holdings in shares of L3Harris Technologies by 41.0% in the second quarter. AQR Capital Management LLC now owns 158,345 shares of the company’s stock worth $35,561,000 after acquiring an additional 46,027 shares during the last quarter. Finally, MBB Public Markets I LLC purchased a new stake in shares of L3Harris Technologies in the second quarter valued at $3,051,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Susquehanna reduced their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.19.

L3Harris Technologies Stock Down 0.5 %

Shares of L3Harris Technologies stock opened at $218.64 on Friday. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The stock has a market cap of $41.47 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $223.62 and a 200 day moving average price of $232.81.

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

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 7,889 shares of company stock valued at $1,800,572. Corporate insiders own 0.82% of the company’s stock.

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.