Olstein Capital Management L.P. Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Olstein Capital Management L.P. grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 20.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,000 shares of the company’s stock after purchasing an additional 4,818 shares during the quarter. Olstein Capital Management L.P.’s holdings in L3Harris Technologies were worth $5,888,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LHX. Archer Investment Corp raised its position in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth approximately $36,000. Trust Co. of Vermont raised its holdings in shares of L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after purchasing an additional 86 shares during the period. MCF Advisors LLC lifted its stake in L3Harris Technologies by 84.0% in the fourth quarter. MCF Advisors LLC now owns 241 shares of the company’s stock valued at $51,000 after purchasing an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in L3Harris Technologies in the third quarter worth $64,000. 84.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The shares were 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. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 7,889 shares of company stock valued at $1,800,572 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $218.64 on Friday. The business has a 50-day simple moving average of $223.62 and a 200 day simple moving average of $232.81. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The stock has a market cap of $41.47 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 1.75 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the business earned $3.19 earnings per share. L3Harris Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts forecast that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Susquehanna dropped their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Truist Financial cut their target price on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Tuesday, November 26th. Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” 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 boosted their target price for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $266.19.

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.