L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Raised by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 485.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 363 shares of the company’s stock after acquiring an additional 301 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in L3Harris Technologies were worth $76,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LHX. Roxbury Financial LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth approximately $30,000. Archer Investment Corp lifted its position in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in L3Harris Technologies in the 4th quarter worth approximately $33,000. Kennebec Savings Bank purchased a new stake in L3Harris Technologies in the 3rd quarter worth approximately $36,000. Finally, New Millennium Group LLC lifted its position in L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after buying an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $195.55 on Wednesday. L3Harris Technologies, Inc. has a 1 year low of $194.77 and a 1 year high of $265.74. The firm’s fifty day simple moving average is $212.67 and its 200 day simple moving average is $229.97. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $37.09 billion, a PE ratio of 24.85, a PEG ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LHX shares. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Morgan Stanley dropped their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. 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 note on Wednesday, January 8th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $262.67.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the sale, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last ninety days. Insiders own 0.82% of the company’s stock.

About L3Harris Technologies

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.