6,159 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by BankPlus Trust Department

BankPlus Trust Department bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,159 shares of the company’s stock, valued at approximately $1,295,000.

Several other large investors also recently modified their holdings of LHX. Roxbury Financial LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $30,000. Archer Investment Corp grew its stake in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at about $33,000. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies during the third quarter worth about $36,000. Finally, New Millennium Group LLC boosted its stake 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 purchasing an additional 163 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $199.13 on Monday. The stock has a market capitalization of $37.50 billion, a PE ratio of 25.30, a P/E/G ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a fifty day moving average of $210.26 and a two-hundred day moving average of $229.10. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 over the last 90 days. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. UBS Group raised their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

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.