Ipswich Investment Management Co. Inc. Has $1.92 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Ipswich Investment Management Co. Inc. lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,145 shares of the company’s stock after acquiring an additional 255 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in L3Harris Technologies were worth $1,923,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LHX. KCM Investment Advisors LLC lifted its holdings in L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares during the last quarter. Fortem Financial Group LLC acquired a new position in L3Harris Technologies during the third quarter valued at approximately $841,000. Czech National Bank boosted its stake in L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after buying an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. grew its position in L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after acquiring an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LHX. JPMorgan Chase & Co. decreased their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Susquehanna cut their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Finally, Truist Financial lowered their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $262.67.

L3Harris Technologies Stock Performance

LHX opened at $199.13 on Friday. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $37.50 billion, a PE ratio of 25.30, a PEG ratio of 2.39 and a beta of 0.76. The firm’s 50-day moving average price is $210.26 and its 200 day moving average price is $229.06.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) 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%. As a group, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now owns 6,812 shares in the company, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 4,901 shares of company stock worth $1,059,757 over the last 90 days. Corporate insiders own 0.82% 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.