L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by DMC Group LLC

DMC Group LLC increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,870 shares of the company’s stock after buying an additional 121 shares during the quarter. DMC Group LLC’s holdings in L3Harris Technologies were worth $604,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its stake 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 valued at $1,883,000 after purchasing an additional 40 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of 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 grew its position in L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after buying an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its position in L3Harris Technologies by 3.3% in the 3rd 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 last quarter. Finally, Archer Investment Corp increased its stake 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 buying an additional 43 shares during the period. 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 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LHX has been the topic of several analyst reports. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, Barclays dropped their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $271.07.

L3Harris Technologies Stock Performance

Shares of LHX opened at $212.12 on Thursday. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The stock has a market cap of $40.23 billion, a P/E ratio of 33.51, a PEG ratio of 1.75 and a beta of 0.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $222.57 and a two-hundred day moving average of $232.71.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. As a group, research analysts predict that L3Harris Technologies, Inc. will post 13.07 EPS for the current fiscal year.

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.