Asset Management One Co. Ltd. Acquires 1,772 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Asset Management One Co. Ltd. boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.5% during the 4th quarter, Holdings Channel reports. The firm owned 71,910 shares of the company’s stock after buying an additional 1,772 shares during the period. Asset Management One Co. Ltd.’s holdings in L3Harris Technologies were worth $15,272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Archer Investment Corp raised its stake in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the period. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies during the 4th quarter valued at approximately $33,000. Kennebec Savings Bank bought a new stake in L3Harris Technologies during the 3rd quarter valued at approximately $36,000. New Millennium Group LLC raised its stake in L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares during the period. Finally, Trust Co. of Vermont raised its stake in L3Harris Technologies by 78.9% during the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after purchasing an additional 86 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 in the last quarter. 0.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on LHX. Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Tuesday, November 26th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Finally, Truist Financial reduced their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $262.67.

L3Harris Technologies Price Performance

LHX opened at $198.02 on Friday. The business has a fifty day moving average of $213.30 and a 200 day moving average of $230.15. L3Harris Technologies, Inc. has a 52-week low of $196.67 and a 52-week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $37.56 billion, a P/E ratio of 25.16, a PEG ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (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%. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.19 EPS for the current 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.