Empowered Funds LLC Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Empowered Funds LLC raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 24.3% during the 4th quarter, Holdings Channel reports. The fund owned 19,735 shares of the company’s stock after purchasing an additional 3,852 shares during the period. Empowered Funds LLC’s holdings in L3Harris Technologies were worth $4,150,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Archer Investment Corp raised its holdings in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Kennebec Savings Bank purchased a new stake in L3Harris Technologies during the 3rd quarter valued at $36,000. Union Bancaire Privee UBP SA purchased a new stake in L3Harris Technologies during the 4th quarter valued at $33,000. New Millennium Group LLC raised its holdings in L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after buying an additional 163 shares during the period. Finally, Trust Co. of Vermont raised its holdings in L3Harris Technologies by 78.9% during the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after buying an additional 86 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

LHX opened at $200.48 on Thursday. L3Harris Technologies, Inc. has a 12-month low of $199.56 and a 12-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 business’s fifty day simple moving average is $215.60 and its 200-day simple moving average is $230.76. The company has a market capitalization of $38.03 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on LHX shares. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Bank of America decreased their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. Susquehanna reduced their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Five research 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 over the last quarter. 0.82% of the stock is owned by corporate 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.