Confluence Wealth Services Inc. Raises Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Confluence Wealth Services Inc. grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,805 shares of the company’s stock after buying an additional 194 shares during the quarter. Confluence Wealth Services Inc.’s holdings in L3Harris Technologies were worth $1,276,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in L3Harris Technologies by 81.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,881 shares of the company’s stock worth $4,854,000 after buying an additional 10,259 shares during the period. Yousif Capital Management LLC grew its stake in L3Harris Technologies by 11.8% in the fourth quarter. Yousif Capital Management LLC now owns 25,063 shares of the company’s stock worth $5,270,000 after purchasing an additional 2,637 shares during the period. Mather Group LLC. raised its holdings in L3Harris Technologies by 15.5% in the fourth quarter. Mather Group LLC. now owns 872 shares of the company’s stock worth $183,000 after purchasing an additional 117 shares in the last quarter. Tandem Capital Management Corp ADV lifted its position in L3Harris Technologies by 2.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 8,257 shares of the company’s stock valued at $1,736,000 after buying an additional 190 shares during the period. Finally, Columbus Macro LLC boosted its holdings in shares of L3Harris Technologies by 494.1% during the 4th quarter. Columbus Macro LLC now owns 17,609 shares of the company’s stock valued at $3,703,000 after buying an additional 14,645 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.9 %

Shares of L3Harris Technologies stock opened at $210.85 on Wednesday. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $219.26 and its 200 day moving average is $231.83. The company has a market cap of $39.99 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.74 and a beta of 0.76.

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, 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%. Research analysts anticipate that L3Harris Technologies, Inc. will post 13.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Tuesday, November 26th. Barclays lowered their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Susquehanna reduced their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.07.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the sale, the insider now directly owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 in the last three months. 0.87% of the stock is currently owned by company insiders.

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.