Tower Bridge Advisors Has $4.52 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Tower Bridge Advisors grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,483 shares of the company’s stock after acquiring an additional 172 shares during the quarter. Tower Bridge Advisors’ holdings in L3Harris Technologies were worth $4,517,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LHX. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $30,000. Archer Investment Corp grew its position in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $33,000. Finally, Kennebec Savings Bank acquired a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on LHX shares. Susquehanna reduced their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Citigroup reduced their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. reduced their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, UBS Group increased their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $261.47.

Insider Activity

In other news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 4,901 shares of company stock valued at $1,059,757. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $206.23 on Friday. The firm has a 50 day simple moving average of $209.05 and a 200 day simple moving average of $228.21. The company has a market cap of $38.84 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

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