Proficio Capital Partners LLC Invests $25.07 Million in L3Harris Technologies, Inc. (NYSE:LHX)

Proficio Capital Partners LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, Holdings Channel reports. The fund purchased 119,229 shares of the company’s stock, valued at approximately $25,071,000.

Several other institutional investors have also modified their holdings of the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies in the fourth quarter worth about $27,000. Roxbury Financial LLC acquired a new stake in L3Harris Technologies in the fourth quarter worth about $30,000. Archer Investment Corp lifted its holdings in L3Harris Technologies by 48.9% in 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 in the fourth quarter worth about $33,000. Finally, Kennebec Savings Bank acquired a new stake in L3Harris Technologies in the third quarter worth about $36,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LHX. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Susquehanna cut their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $300.00 to $269.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $261.47.

Insider Activity

In other news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction dated 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. This represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last 90 days. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $206.23 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The firm has a market capitalization of $38.84 billion, a PE ratio of 26.20, a P/E/G ratio of 2.42 and a beta of 0.76. The firm has a 50-day moving average of $209.05 and a two-hundred day moving average of $228.21.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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, analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

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.