Salvus Wealth Management LLC Makes New $317,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Salvus Wealth Management LLC purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,506 shares of the company’s stock, valued at approximately $317,000.

Several other institutional investors have also modified their holdings of LHX. Archer Investment Corp lifted its position in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $36,000. Ashton Thomas Securities LLC bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $64,000. Armstrong Advisory Group Inc. boosted its position in shares of L3Harris Technologies by 1,660.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company’s stock worth $74,000 after buying an additional 332 shares during the period. Finally, Quest Partners LLC grew its holdings in L3Harris Technologies by 36,000.0% in the 3rd quarter. Quest Partners LLC now owns 361 shares of the company’s stock worth $86,000 after buying an additional 360 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 1.9 %

Shares of L3Harris Technologies stock opened at $218.26 on Friday. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The firm has a market capitalization of $41.40 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average is $228.85 and its 200-day moving average is $233.10.

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

Insider Activity

In related news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,889 shares of company stock worth $1,800,572 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LHX shares. JPMorgan Chase & Co. reduced their price target on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays decreased their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Citigroup boosted their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Truist Financial decreased their price objective on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently 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.