Trifecta Capital Advisors LLC Purchases 1,115 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Trifecta Capital Advisors LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 8.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 14,769 shares of the company’s stock after buying an additional 1,115 shares during the period. Trifecta Capital Advisors LLC’s holdings in L3Harris Technologies were worth $3,106,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after purchasing an additional 59,008 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after purchasing an additional 85,882 shares during the period. Mizuho Markets Americas LLC lifted its stake in shares of L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after purchasing an additional 166,262 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of L3Harris Technologies by 4.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 455,095 shares of the company’s stock valued at $108,253,000 after purchasing an additional 20,808 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LHX. Argus raised 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. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $199.89 on Tuesday. The stock has a market capitalization of $37.64 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 2.42 and a beta of 0.76. The business has a 50-day moving average of $209.82 and a 200-day moving average of $228.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

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, 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%. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now owns 6,812 shares in the company, 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 4,901 shares of company stock worth $1,059,757 in the last quarter. Corporate insiders own 0.87% 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.