New York Life Investment Management LLC Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

New York Life Investment Management LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.8% during the 4th quarter, HoldingsChannel reports. The fund owned 25,484 shares of the company’s stock after purchasing an additional 195 shares during the period. New York Life Investment Management LLC’s holdings in L3Harris Technologies were worth $5,359,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. OneDigital Investment Advisors LLC boosted its position in shares of L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after purchasing an additional 40 shares during the period. Archer Investment Corp boosted its position in L3Harris Technologies by 48.9% in the 3rd 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. HMS Capital Management LLC boosted its position in L3Harris Technologies by 1.0% in the 3rd quarter. HMS Capital Management LLC now owns 4,850 shares of the company’s stock valued at $1,154,000 after buying an additional 47 shares during the period. Sigma Planning Corp boosted its position in L3Harris Technologies by 1.9% in the 3rd quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock valued at $622,000 after buying an additional 49 shares during the period. Finally, Measured Wealth Private Client Group LLC boosted its position in L3Harris Technologies by 5.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $206.23 on Friday. The company’s fifty day moving average price is $209.05 and its 200 day moving average price is $228.21. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market capitalization of $38.84 billion, a P/E ratio of 26.20, a P/E/G ratio of 2.42 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on LHX. Truist Financial decreased their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $300.00 to $269.00 and set an “overweight” rating for the company in a research report on Wednesday. Morgan Stanley decreased their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $261.47.

Insider Buying and Selling

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 value of $376,878.60. Following the transaction, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last ninety days. 0.82% of the stock is owned by corporate insiders.

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.