4,441 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by Elk River Wealth Management LLC

Elk River Wealth Management LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,441 shares of the company’s stock, valued at approximately $934,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in LHX. Roxbury Financial LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter worth about $30,000. Archer Investment Corp raised its holdings in shares of 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 acquiring an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies in the 4th quarter worth about $33,000. Kennebec Savings Bank bought a new stake in L3Harris Technologies in the 3rd quarter worth about $36,000. Finally, New Millennium Group LLC grew its position in L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the sale, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. This represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 4,901 shares of company stock valued at $1,059,757. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Down 0.5 %

LHX opened at $194.80 on Thursday. The company has a 50 day moving average of $211.28 and a 200 day moving average of $229.48. The company has a market cap of $36.95 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.43 and a beta of 0.76. L3Harris Technologies, Inc. has a 12 month low of $194.25 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.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping 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%. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LHX. JPMorgan Chase & Co. reduced their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Truist Financial reduced their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Citigroup reduced their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. UBS Group upped their price objective 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. Finally, 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. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $262.67.

L3Harris Technologies Company 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.