Armstrong Advisory Group Inc. Has $74,000 Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Armstrong Advisory Group Inc. increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1,660.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 352 shares of the company’s stock after purchasing an additional 332 shares during the period. Armstrong Advisory Group Inc.’s holdings in L3Harris Technologies were worth $74,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in LHX. Oppenheimer Asset Management Inc. lifted its position in shares of L3Harris Technologies by 6.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,705 shares of the company’s stock worth $1,057,000 after purchasing an additional 268 shares in the last quarter. Edgestream Partners L.P. increased its position in shares of L3Harris Technologies by 18.1% in the second quarter. Edgestream Partners L.P. now owns 4,557 shares of the company’s stock valued at $1,023,000 after acquiring an additional 698 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in L3Harris Technologies by 4.8% during the second quarter. Axxcess Wealth Management LLC now owns 4,867 shares of the company’s stock worth $1,093,000 after acquiring an additional 224 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in L3Harris Technologies by 8.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,473 shares of the company’s stock valued at $1,454,000 after purchasing an additional 482 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of L3Harris Technologies by 18.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,190 shares of the company’s stock worth $4,297,000 after purchasing an additional 2,925 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Finally, Susquehanna decreased their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $266.19.

L3Harris Technologies Trading Up 1.9 %

Shares of NYSE:LHX opened at $218.26 on Friday. The business’s 50 day simple moving average is $228.85 and its 200 day simple moving average is $233.10. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market capitalization of $41.40 billion, a P/E ratio of 34.48, a P/E/G ratio of 1.68 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. L3Harris Technologies’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $3.19 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 13.07 EPS for the current fiscal year.

Insider Activity

In related news, insider Ross Niebergall sold 1,373 shares of the company’s 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 in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 7,889 shares of company stock worth $1,800,572. 0.87% of the stock is currently owned by corporate insiders.

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.