Zullo Investment Group Inc. Acquires 54 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Zullo Investment Group Inc. lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,717 shares of the company’s stock after buying an additional 54 shares during the quarter. Zullo Investment Group Inc.’s holdings in L3Harris Technologies were worth $361,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Creative Planning lifted its stake in shares of L3Harris Technologies by 1.2% in the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after acquiring an additional 512 shares during the last quarter. Blue Trust Inc. increased its stake in L3Harris Technologies by 96.7% in the 3rd quarter. Blue Trust Inc. now owns 653 shares of the company’s stock worth $147,000 after purchasing an additional 321 shares during the period. Cyndeo Wealth Partners LLC bought a new stake in L3Harris Technologies in the third quarter valued at approximately $203,000. OLD National Bancorp IN boosted its stake in shares of L3Harris Technologies by 73.3% during the third quarter. OLD National Bancorp IN now owns 1,879 shares of the company’s stock valued at $447,000 after purchasing an additional 795 shares during the period. Finally, Whittier Trust Co. grew its holdings in shares of L3Harris Technologies by 7.7% in the third quarter. Whittier Trust Co. now owns 1,254 shares of the company’s stock worth $298,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.5 %

NYSE:LHX opened at $194.80 on Thursday. The firm has a 50-day simple moving average of $211.28 and a two-hundred day simple moving average of $229.48. L3Harris Technologies, Inc. has a fifty-two week low of $194.25 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a market cap of $36.95 billion, a P/E ratio of 24.75, a P/E/G ratio of 2.43 and a beta of 0.76.

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

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares of the company’s stock, valued at $1,917,765.12. This represents a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 4,901 shares of company stock worth $1,059,757. Insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LHX. Barclays lowered their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Susquehanna lowered their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. UBS Group boosted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $262.67.

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.