Pinnacle Financial Partners Inc Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Pinnacle Financial Partners Inc lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,072 shares of the company’s stock after purchasing an additional 349 shares during the period. Pinnacle Financial Partners Inc’s holdings in L3Harris Technologies were worth $7,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of LHX. Blue Trust Inc. raised its holdings in shares of L3Harris Technologies by 96.7% in the third quarter. Blue Trust Inc. now owns 653 shares of the company’s stock worth $147,000 after buying an additional 321 shares during the period. International Assets Investment Management LLC grew its stake in L3Harris Technologies by 23,627.0% in the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after purchasing an additional 169,878 shares in the last quarter. CENTRAL TRUST Co grew its stake in L3Harris Technologies by 14.9% in the third quarter. CENTRAL TRUST Co now owns 4,602 shares of the company’s stock worth $1,095,000 after purchasing an additional 596 shares in the last quarter. Tectonic Advisors LLC grew its stake in L3Harris Technologies by 5.3% in the third quarter. Tectonic Advisors LLC now owns 2,185 shares of the company’s stock worth $520,000 after purchasing an additional 110 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in L3Harris Technologies by 3.4% in the third quarter. Ballentine Partners LLC now owns 3,341 shares of the company’s stock worth $795,000 after purchasing an additional 111 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LHX. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Truist Financial dropped their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Barclays dropped their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. UBS Group increased their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Five equities 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $262.67.

L3Harris Technologies Stock Performance

Shares of LHX opened at $199.13 on Friday. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a fifty day moving average price of $210.26 and a 200-day moving average price of $229.08. 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 firm has a market cap of $37.50 billion, a PE ratio of 25.30, a P/E/G ratio of 2.42 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued 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%. Equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 4,901 shares of company stock worth $1,059,757 in the last 90 days. Insiders own 0.82% of the company’s stock.

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.