Tufton Capital Management Grows Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Tufton Capital Management raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,798 shares of the company’s stock after acquiring an additional 81 shares during the period. Tufton Capital Management’s holdings in L3Harris Technologies were worth $2,481,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pallas Capital Advisors LLC boosted its position in shares of L3Harris Technologies by 8.1% during the third quarter. Pallas Capital Advisors LLC now owns 1,043 shares of the company’s stock valued at $255,000 after buying an additional 78 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in shares of L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after buying an additional 43 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of L3Harris Technologies by 4.0% during the third quarter. First Trust Direct Indexing L.P. now owns 5,856 shares of the company’s stock valued at $1,393,000 after buying an additional 224 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in shares of L3Harris Technologies by 1.3% during the third quarter. Pinnacle Associates Ltd. now owns 27,332 shares of the company’s stock valued at $6,501,000 after buying an additional 345 shares during the last quarter. Finally, Tandem Capital Management Corp ADV boosted its position in shares of L3Harris Technologies by 4.4% during the third quarter. Tandem Capital Management Corp ADV now owns 8,067 shares of the company’s stock valued at $1,919,000 after buying an additional 342 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the sale, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 in the last quarter. 0.87% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $204.97 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The stock has a 50-day moving average price of $209.20 and a 200 day moving average price of $228.36. The stock has a market capitalization of $38.60 billion, a P/E ratio of 26.04, a P/E/G ratio of 2.42 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. Equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent analyst reports. Morgan Stanley dropped their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Bank of America lowered their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.47.

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.