72,492 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Bought by SVB Wealth LLC

SVB Wealth LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 72,492 shares of the company’s stock, valued at approximately $15,244,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LHX. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $27,000. Roxbury Financial LLC acquired a new position in L3Harris Technologies in the fourth quarter worth about $30,000. Archer Investment Corp lifted its stake in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $33,000. Finally, Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at approximately $36,000. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 23rd. The shares were 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 approximately $1,455,383.80. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 4,901 shares of company stock worth $1,059,757 over the last ninety days. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 0.7 %

NYSE LHX opened at $206.23 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The stock has a market capitalization of $38.84 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The stock has a fifty day moving average of $209.05 and a 200-day moving average of $228.21.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping 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%. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on LHX. Citigroup decreased their price target on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. UBS Group upped their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Bank of America dropped their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, Morgan Stanley dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $261.47.

About L3Harris Technologies

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.