Cerro Pacific Wealth Advisors LLC Has $617,000 Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Cerro Pacific Wealth Advisors LLC trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,932 shares of the company’s stock after selling 56 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in L3Harris Technologies were worth $617,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC raised its position in shares of L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after acquiring an additional 40 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after purchasing an additional 42 shares during the period. Blossom Wealth Management increased its holdings in L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its stake in L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after buying an additional 43 shares during the period. Finally, Archer Investment Corp boosted its holdings in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LHX. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada increased their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. decreased their target price on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Citigroup increased their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $219.79 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a 50-day moving average of $224.75 and a 200-day moving average of $232.95. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The company has a market cap of $41.69 billion, a P/E ratio of 34.72, a P/E/G ratio of 1.78 and a beta of 0.75.

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

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 7,889 shares of company stock valued at $1,800,572 over the last three months. Corporate insiders own 0.82% of the company’s stock.

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.