L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Strong Tower Advisory Services

Strong Tower Advisory Services lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.8% during the fourth quarter, Holdings Channel reports. The fund owned 8,869 shares of the company’s stock after purchasing an additional 563 shares during the quarter. Strong Tower Advisory Services’ holdings in L3Harris Technologies were worth $1,865,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies in the 3rd quarter worth about $36,000. Trust Co. of Vermont grew its stake in L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after buying an additional 86 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of L3Harris Technologies in the third quarter worth $64,000. Finally, Armstrong Advisory Group Inc. raised its stake in shares of L3Harris Technologies by 1,660.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company’s stock valued at $74,000 after acquiring an additional 332 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $218.22 on Monday. The company has a 50-day moving average of $227.28 and a 200-day moving average of $233.03. The firm 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. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.19 earnings per share. Analysts forecast that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 7,889 shares of company stock valued at $1,800,572. 0.87% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Bank of America upgraded 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 research note on Thursday, October 31st. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $266.19.

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.