National Pension Service Purchases 179,539 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

National Pension Service grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 42.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 606,047 shares of the company’s stock after buying an additional 179,539 shares during the period. National Pension Service owned 0.32% of L3Harris Technologies worth $127,440,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at about $27,000. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at about $30,000. Archer Investment Corp increased its position in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at about $33,000. Finally, Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies during the third quarter valued at about $36,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on LHX. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Susquehanna decreased their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Bank of America decreased their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Morgan Stanley decreased their price objective on shares of 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $261.47.

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the sale, the insider now owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 4,901 shares of company stock valued at $1,059,757. 0.87% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Down 0.8 %

Shares of LHX opened at $202.28 on Thursday. The firm has a market cap of $38.09 billion, a P/E ratio of 25.70, a P/E/G ratio of 2.42 and a beta of 0.76. The stock has a 50 day simple moving average of $209.31 and a two-hundred day simple moving average of $228.53. 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 1 year low of $193.09 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its 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 return on equity of 13.11% and a net margin of 7.04%. On average, analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

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.