Grimes & Company Inc. Has $276,000 Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Grimes & Company Inc. grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 6.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,310 shares of the company’s stock after buying an additional 79 shares during the quarter. Grimes & Company Inc.’s holdings in L3Harris Technologies were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after purchasing an additional 59,008 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in L3Harris Technologies by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after buying an additional 27,763 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after buying an additional 85,882 shares during the period. Raymond James & Associates lifted its holdings in shares of L3Harris Technologies by 3.0% during the third quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock worth $234,275,000 after buying an additional 28,882 shares during the last quarter. Finally, Mizuho Markets Americas LLC boosted its position in shares of L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after acquiring an additional 166,262 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE:LHX opened at $218.64 on Monday. The firm has a market cap of $41.47 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. The company’s 50-day moving average price is $223.62 and its two-hundred day moving average price is $232.86. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping 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 business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the business earned $3.19 EPS. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the sale, the insider now directly owns 8,576 shares of the company’s stock, valued at $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. cut their price objective on shares of L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, Truist Financial lowered their price objective on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $266.19.

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.