Core Alternative Capital Increases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Core Alternative Capital raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,561 shares of the company’s stock after purchasing an additional 750 shares during the quarter. Core Alternative Capital’s holdings in L3Harris Technologies were worth $3,903,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings 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 buying an additional 178,407 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of L3Harris Technologies by 23,627.0% in the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after buying an additional 169,878 shares during the period. Mizuho Markets Americas LLC lifted its holdings 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 buying an additional 166,262 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at approximately $35,904,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of L3Harris Technologies by 156.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock valued at $35,259,000 after buying an additional 90,370 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 over the last quarter. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $208.30 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a fifty day moving average of $216.96 and a two-hundred day moving average of $231.17. The company has a market capitalization of $39.51 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.75 and a beta of 0.76. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 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 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that L3Harris Technologies, Inc. will post 11.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays reduced their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

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.