Sara Bay Financial Acquires 125 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Sara Bay Financial grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 11.0% in the 4th quarter, Holdings Channel reports. The fund owned 1,262 shares of the company’s stock after purchasing an additional 125 shares during the quarter. Sara Bay Financial’s holdings in L3Harris Technologies were worth $264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in L3Harris Technologies by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after purchasing an additional 59,008 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after purchasing an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after purchasing an additional 85,882 shares during the period. Raymond James & Associates increased its stake in shares of L3Harris Technologies by 3.0% during the third quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock worth $234,275,000 after purchasing an additional 28,882 shares during the period. Finally, Mizuho Markets Americas LLC increased its stake in shares of L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 7,889 shares of company stock worth $1,800,572 in the last 90 days. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Down 0.1 %

LHX traded down $0.26 during midday trading on Friday, reaching $218.22. 778,308 shares of the company were exchanged, compared to its average volume of 939,366. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company’s fifty day moving average price is $228.12 and its 200 day moving average price is $232.99. The company has a market cap of $41.39 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the company posted $3.19 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts expect that L3Harris Technologies, Inc. will post 13.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Susquehanna lowered their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Truist Financial lowered their price objective on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reduced their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $266.19.

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.