MCF Advisors LLC Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

MCF Advisors LLC raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 84.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 241 shares of the company’s stock after purchasing an additional 110 shares during the period. MCF Advisors LLC’s holdings in L3Harris Technologies were worth $51,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LHX. KCM Investment Advisors LLC raised its position in shares of L3Harris Technologies by 43.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after buying an additional 5,868 shares during the period. Fortem Financial Group LLC acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $841,000. Czech National Bank grew its holdings in shares of L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after purchasing an additional 2,480 shares during the period. 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. Finally, Sanctuary Advisors LLC raised its holdings in L3Harris Technologies by 13.9% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after buying an additional 3,740 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.3 %

NYSE:LHX opened at $220.02 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market capitalization of $41.73 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 1.74 and a beta of 0.75. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The stock has a 50-day simple moving average of $225.58 and a 200 day simple moving average of $233.04.

L3Harris Technologies (NYSE:LHX) last issued 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. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 EPS. Sell-side analysts predict that L3Harris Technologies, Inc. will post 13.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Tuesday, November 26th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Truist Financial lowered their target price on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Susquehanna dropped their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 1,764 shares of the 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 sale, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 7,889 shares of company stock valued at $1,800,572 over the last 90 days. 0.87% of the stock is owned by company insiders.

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.