R Squared Ltd Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

R Squared Ltd purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,340 shares of the company’s stock, valued at approximately $492,000. L3Harris Technologies accounts for approximately 0.5% of R Squared Ltd’s holdings, making the stock its 27th biggest holding.

Several other large investors also recently made changes to their positions in LHX. JPMorgan Chase & Co. grew its holdings in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares in the last quarter. International Assets Investment Management LLC boosted its position in L3Harris Technologies by 23,627.0% during the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after acquiring an additional 169,878 shares during the last quarter. Mizuho Markets Americas LLC grew its stake in shares of L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after acquiring an additional 166,262 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of L3Harris Technologies in the third quarter valued at approximately $35,904,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of L3Harris Technologies by 156.2% in the third quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock worth $35,259,000 after purchasing an additional 90,370 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LHX. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Truist Financial lowered their target price on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Susquehanna reduced their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Citigroup boosted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Argus raised 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 research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $266.19.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. This represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 7,889 shares of company stock valued at $1,800,572. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Down 4.0 %

Shares of LHX stock opened at $213.36 on Wednesday. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The company has a market capitalization of $40.47 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. The firm has a 50 day moving average price of $223.18 and a two-hundred day moving average price of $232.84. 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 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.