Brookmont Capital Management lowered its holdings in L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 1.9% during the fourth quarter, HoldingsChannel reports. The fund owned 19,347 shares of the company’s stock after selling 369 shares during the period. L3Harris Technologies accounts for about 2.2% of Brookmont Capital Management’s investment portfolio, making the stock its 12th biggest holding. Brookmont Capital Management’s holdings in L3Harris Technologies were worth $4,068,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Archer Investment Corp lifted its holdings in shares of 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. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies in the third quarter valued at $36,000. Trust Co. of Vermont lifted its position 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 purchased a new position in L3Harris Technologies during the third quarter worth about $64,000. Finally, Armstrong Advisory Group Inc. increased its stake in L3Harris Technologies by 1,660.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company’s stock worth $74,000 after acquiring an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Truist Financial lowered their price objective on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. 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. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Finally, Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $266.19.
Insider Buying and Selling at L3Harris Technologies
In other news, insider Ross Niebergall sold 1,373 shares of the firm’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 sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 7,889 shares of company stock worth $1,800,572. Insiders own 0.87% of the company’s stock.
L3Harris Technologies Stock Performance
NYSE LHX opened at $218.22 on Tuesday. The firm’s fifty day moving average price is $227.28 and its two-hundred day moving average price is $233.09. The stock has a market cap of $41.39 billion, a PE ratio of 34.47, a PEG ratio of 1.74 and a beta of 0.75. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.
L3Harris Technologies (NYSE:LHX – Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $3.19 EPS. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13.07 EPS for the current fiscal year.
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.
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