Spring Capital Management LLC Has $5.30 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Spring Capital Management LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 14.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,221 shares of the company’s stock after buying an additional 3,258 shares during the period. L3Harris Technologies comprises approximately 3.2% of Spring Capital Management LLC’s portfolio, making the stock its 15th largest position. Spring Capital Management LLC’s holdings in L3Harris Technologies were worth $5,303,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LHX. Archer Investment Corp lifted its holdings in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the period. Kennebec Savings Bank bought a new position in L3Harris Technologies during the 3rd quarter worth $36,000. Ashton Thomas Securities LLC acquired a new position in L3Harris Technologies during the 3rd quarter worth about $64,000. Armstrong Advisory Group Inc. grew its position in shares of L3Harris Technologies by 1,660.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company’s stock valued at $74,000 after buying an additional 332 shares during the last quarter. Finally, Quest Partners LLC increased its stake in shares of L3Harris Technologies by 36,000.0% in the third quarter. Quest Partners LLC now owns 361 shares of the company’s stock valued at $86,000 after buying an additional 360 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

Shares of LHX opened at $218.22 on Friday. The stock has a market cap of $41.39 billion, a P/E ratio of 34.47, a P/E/G ratio of 1.68 and a beta of 0.75. The business’s fifty day moving average is $228.12 and its 200 day moving average is $232.99. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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 firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the company earned $3.19 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The shares were 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 $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 7,889 shares of company stock valued at $1,800,572. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Truist Financial lowered their target price on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research note on Tuesday. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and twelve have issued 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.

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.