Sanibel Captiva Trust Company Inc. Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Sanibel Captiva Trust Company Inc. raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 30.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,782 shares of the company’s stock after purchasing an additional 415 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in L3Harris Technologies were worth $375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. KCM Investment Advisors LLC raised its holdings in L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after acquiring an additional 5,868 shares in the last quarter. Fortem Financial Group LLC bought a new position in shares of L3Harris Technologies in the 3rd quarter worth about $841,000. Czech National Bank lifted its holdings in L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after acquiring an additional 2,480 shares during the last quarter. Principal Financial Group Inc. boosted its position in L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after purchasing an additional 4,321 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in shares of L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after acquiring an additional 3,740 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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

Several equities analysts have recently issued reports on LHX shares. Truist Financial decreased their price objective on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company lowered their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Susquehanna dropped their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $266.19.

L3Harris Technologies Stock Performance

Shares of LHX opened at $218.22 on Monday. The company has a 50-day moving average of $227.28 and a two-hundred day moving average of $233.03. The stock has a market cap of $41.39 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 1.68 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74.

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

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.