Olstein Capital Management L.P. Raises Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Olstein Capital Management L.P. grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 20.8% during the 4th quarter, HoldingsChannel reports. The fund owned 28,000 shares of the company’s stock after acquiring an additional 4,818 shares during the quarter. Olstein Capital Management L.P.’s holdings in L3Harris Technologies were worth $5,888,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Archer Investment Corp boosted its position in L3Harris Technologies by 48.9% during the third 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. Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $36,000. Trust Co. of Vermont boosted its holdings in L3Harris Technologies by 78.9% during the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after acquiring an additional 86 shares during the period. MCF Advisors LLC grew its position in L3Harris Technologies by 84.0% during the 4th quarter. MCF Advisors LLC now owns 241 shares of the company’s stock worth $51,000 after acquiring an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in L3Harris Technologies in the 3rd quarter worth approximately $64,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Down 0.5 %

LHX opened at $218.64 on Friday. The stock has a market cap of $41.47 billion, a PE ratio of 34.54, a PEG ratio of 1.75 and a beta of 0.75. The business has a 50 day moving average of $223.62 and a 200-day moving average of $232.81. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. 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 (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.19 EPS. Equities research analysts predict that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

Insider Activity at L3Harris Technologies

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on LHX shares. Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Royal Bank of Canada raised their price target 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. Citigroup boosted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $266.19.

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.