NovaPoint Capital LLC Raises Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

NovaPoint Capital LLC increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 3.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,085 shares of the company’s stock after acquiring an additional 584 shares during the period. NovaPoint Capital LLC’s holdings in L3Harris Technologies were worth $3,382,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares during the period. International Assets Investment Management LLC boosted its position in shares of L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after buying an additional 169,878 shares during the period. Mizuho Markets Americas LLC boosted its position in shares of L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after buying an additional 166,262 shares during the period. Janney Montgomery Scott LLC purchased a new position in L3Harris Technologies in the third quarter valued at $35,904,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in L3Harris Technologies by 156.2% in the third quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock valued at $35,259,000 after purchasing an additional 90,370 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Susquehanna decreased their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $263.07.

L3Harris Technologies Stock Down 0.9 %

LHX opened at $208.89 on Thursday. The business has a 50 day moving average price of $219.26 and a two-hundred day moving average price of $231.83. 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 has a market cap of $39.62 billion, a PE ratio of 26.54, a P/E/G ratio of 1.74 and a beta of 0.76. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 13.8 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 4,901 shares of company stock worth $1,059,757. Company insiders own 0.87% of the company’s stock.

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.