Venturi Wealth Management LLC Increases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Venturi Wealth Management LLC grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 764.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,254 shares of the company’s stock after acquiring an additional 3,762 shares during the period. Venturi Wealth Management LLC’s holdings in L3Harris Technologies were worth $895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. OneDigital Investment Advisors LLC raised its stake in L3Harris Technologies by 0.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after buying an additional 40 shares in the last quarter. Blossom Wealth Management grew its position in L3Harris Technologies by 1.7% during the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares during the period. Nicholas Hoffman & Company LLC. grew its position in shares of L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after acquiring an additional 43 shares during the period. Archer Investment Corp lifted its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares in the last quarter. Finally, HMS Capital Management LLC lifted its stake in L3Harris Technologies by 1.0% in the 3rd quarter. HMS Capital Management LLC now owns 4,850 shares of the company’s stock valued at $1,154,000 after buying an additional 47 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $195.55 on Wednesday. The company has a fifty day simple moving average of $211.97 and a 200 day simple moving average of $229.72. The firm has a market cap of $37.09 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.75 and a beta of 0.76. L3Harris Technologies, Inc. has a twelve month low of $194.77 and a twelve month high of $265.74. 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 (NYSE:LHX) last announced 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 net margin of 7.04% and a return on equity of 13.11%. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.19 EPS for the current fiscal year.

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 transaction of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LHX shares. JPMorgan Chase & Co. decreased their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note 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 for the company in a research note on Tuesday, February 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Finally, Barclays dropped their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $262.67.

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.