CogentBlue Wealth Advisors LLC Purchases Shares of 2,382 L3Harris Technologies, Inc. (NYSE:LHX)

CogentBlue Wealth Advisors LLC acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,382 shares of the company’s stock, valued at approximately $501,000.

Other institutional investors have also recently bought and sold shares of the company. KCM Investment Advisors LLC boosted its stake in L3Harris Technologies by 43.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after buying an additional 5,868 shares in the last quarter. Fortem Financial Group LLC acquired a new stake in L3Harris Technologies in the 3rd quarter valued at about $841,000. Czech National Bank increased its position in L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after acquiring an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after acquiring an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 4,901 shares of company stock valued at $1,059,757. 0.87% of the stock is owned by insiders.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $194.80 on Thursday. L3Harris Technologies, Inc. has a 12-month low of $194.25 and a 12-month high of $265.74. The firm has a fifty day moving average of $211.28 and a 200-day moving average of $229.48. The firm has a market capitalization of $36.95 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 2.43 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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 return on equity of 13.11% and a net margin of 7.04%. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Argus raised shares of 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. Bank of America cut their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, UBS Group boosted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

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.