L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by IAM Advisory LLC

IAM Advisory LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,430 shares of the company’s stock after buying an additional 133 shares during the period. IAM Advisory LLC’s holdings in L3Harris Technologies were worth $1,773,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Edgestream Partners L.P. raised its holdings in shares of L3Harris Technologies by 18.1% in the 2nd quarter. Edgestream Partners L.P. now owns 4,557 shares of the company’s stock worth $1,023,000 after purchasing an additional 698 shares during the period. Blair William & Co. IL increased its position in L3Harris Technologies by 1.9% during the 2nd quarter. Blair William & Co. IL now owns 30,600 shares of the company’s stock worth $6,872,000 after purchasing an additional 575 shares in the last quarter. Intech Investment Management LLC increased its position in L3Harris Technologies by 261.5% during the 2nd quarter. Intech Investment Management LLC now owns 13,834 shares of the company’s stock worth $3,107,000 after purchasing an additional 10,007 shares in the last quarter. Brighton Jones LLC raised its holdings in L3Harris Technologies by 3.5% in the second quarter. Brighton Jones LLC now owns 1,616 shares of the company’s stock valued at $363,000 after buying an additional 55 shares during the period. Finally, Ieq Capital LLC lifted its position in L3Harris Technologies by 23.8% during the second quarter. Ieq Capital LLC now owns 13,308 shares of the company’s stock valued at $2,989,000 after buying an additional 2,560 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LHX shares. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Tuesday, November 26th. Wells Fargo & Company reduced their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Finally, Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.19.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $218.22 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74. The firm has a fifty day moving average of $227.28 and a two-hundred day moving average of $232.97. The firm has a market cap of $41.39 billion, a P/E ratio of 34.47, a P/E/G ratio of 1.68 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. L3Harris Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 7,889 shares of company stock valued at $1,800,572 in the last quarter. Insiders own 0.87% of the company’s stock.

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.