Strong Tower Advisory Services Acquires 563 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Strong Tower Advisory Services grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,869 shares of the company’s stock after purchasing an additional 563 shares during the period. Strong Tower Advisory Services’ holdings in L3Harris Technologies were worth $1,865,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. OneDigital Investment Advisors LLC lifted its holdings in shares of L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after purchasing an additional 40 shares in the last quarter. Koshinski Asset Management Inc. boosted its holdings in shares of L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after acquiring an additional 42 shares during the last quarter. Blossom Wealth Management lifted its position in L3Harris Technologies by 1.7% during the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after purchasing an additional 43 shares during the period. Nicholas Hoffman & Company LLC. boosted its holdings in L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after purchasing an additional 43 shares during the last quarter. Finally, Archer Investment Corp grew its position in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In related news, insider Ross Niebergall sold 1,373 shares of the 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 sale, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 7,889 shares of company stock valued at $1,800,572. 0.87% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Down 0.1 %

LHX opened at $218.22 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The company’s 50 day simple moving average is $227.28 and its two-hundred day simple moving average is $233.03. The firm has a market capitalization of $41.39 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.19 EPS. Analysts expect that L3Harris Technologies, Inc. will post 13.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada raised their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Barclays reduced their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company lowered their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.19.

About L3Harris Technologies

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.