L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Blue Trust Inc.

Blue Trust Inc. boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 557.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,294 shares of the company’s stock after buying an additional 3,641 shares during the period. Blue Trust Inc.’s holdings in L3Harris Technologies were worth $903,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. KCM Investment Advisors LLC raised its position in L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after purchasing an additional 5,868 shares during the period. Fortem Financial Group LLC purchased a new stake in L3Harris Technologies in the third quarter valued at $841,000. Czech National Bank raised its position in L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after purchasing an additional 2,480 shares during the period. JPMorgan Chase & Co. raised its position in L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the period. Finally, Principal Financial Group Inc. raised its position in L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after purchasing an additional 4,321 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on LHX. Citigroup reduced their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Bank of America reduced their target price 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. Argus upgraded 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. Morgan Stanley cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $262.67.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 4,901 shares of company stock valued at $1,059,757. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $198.02 on Monday. The stock’s 50-day moving average is $213.30 and its two-hundred day moving average is $230.16. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1-year low of $196.67 and a 1-year high of $265.74. The company has a market cap of $37.56 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share 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%. Analysts forecast that L3Harris Technologies, Inc. will post 11.19 EPS for the current fiscal year.

L3Harris Technologies 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.