Stonebridge Financial Group LLC Invests $3.59 Million in L3Harris Technologies, Inc. (NYSE:LHX)

Stonebridge Financial Group LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 17,056 shares of the company’s stock, valued at approximately $3,587,000.

A number of other large investors have also added to or reduced their stakes in the business. Core Alternative Capital raised its stake in shares of L3Harris Technologies by 4.2% during the fourth quarter. Core Alternative Capital now owns 18,561 shares of the company’s stock valued at $3,903,000 after acquiring an additional 750 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in L3Harris Technologies by 18.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 34,958 shares of the company’s stock worth $7,351,000 after purchasing an additional 5,413 shares during the last quarter. Empowered Funds LLC lifted its holdings in L3Harris Technologies by 24.3% during the 4th quarter. Empowered Funds LLC now owns 19,735 shares of the company’s stock worth $4,150,000 after buying an additional 3,852 shares during the period. Moloney Securities Asset Management LLC grew its position in shares of L3Harris Technologies by 3.3% in the 4th quarter. Moloney Securities Asset Management LLC now owns 3,105 shares of the company’s stock valued at $653,000 after buying an additional 100 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its stake in shares of L3Harris Technologies by 10.1% in the fourth quarter. Apollon Wealth Management LLC now owns 18,528 shares of the company’s stock valued at $3,896,000 after buying an additional 1,696 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LHX shares. Susquehanna lowered their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Barclays lowered their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Truist Financial decreased their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $262.67.

L3Harris Technologies Stock Up 1.1 %

Shares of NYSE:LHX opened at $208.30 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74. The business’s 50 day simple moving average is $216.96 and its two-hundred day simple moving average is $231.17. The firm has a market cap of $39.51 billion, a P/E ratio of 26.47, a PEG ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 11.19 EPS for the current fiscal year.

Insider Activity

In related 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 value of $394,465.68. Following the transaction, the insider now directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 over the last quarter. Insiders own 0.82% of the company’s stock.

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.