GDS Wealth Management Purchases 2,884 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

GDS Wealth Management increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 79,585 shares of the company’s stock after purchasing an additional 2,884 shares during the quarter. L3Harris Technologies makes up about 1.5% of GDS Wealth Management’s holdings, making the stock its 24th biggest position. GDS Wealth Management’s holdings in L3Harris Technologies were worth $16,735,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Archer Investment Corp grew its position in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $33,000. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth approximately $36,000. New Millennium Group LLC increased its stake in shares of L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares during the last quarter. Finally, 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. 84.76% of the stock is owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 4,901 shares of company stock worth $1,059,757. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on LHX. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Truist Financial decreased their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday. UBS Group increased their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Finally, Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.87.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $213.07 on Tuesday. The company has a 50-day moving average price of $220.51 and a 200 day moving average price of $232.17. 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 stock has a market cap of $40.41 billion, a P/E ratio of 27.07, a PEG ratio of 1.74 and a beta of 0.75. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.8 earnings per share for the current 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.