Crestwood Advisors Group LLC Grows Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Crestwood Advisors Group LLC raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 12.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,860 shares of the company’s stock after acquiring an additional 201 shares during the quarter. Crestwood Advisors Group LLC’s holdings in L3Harris Technologies were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at approximately $30,000. Archer Investment Corp lifted its stake in shares of 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 buying an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at approximately $33,000. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies during the 3rd quarter valued at approximately $36,000. Finally, New Millennium Group LLC lifted its stake in shares of 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 buying an additional 163 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LHX. Truist Financial dropped their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Bank of America dropped their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Finally, Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently 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 $204.19 on Wednesday. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The firm has a market capitalization of $38.45 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 2.42 and a beta of 0.76. The company’s fifty day moving average price is $209.53 and its 200-day moving average price is $228.71. 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 (NYSE:LHX) last announced 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 net margin of 7.04% and a return on equity of 13.11%. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction on Monday, December 30th. The shares were 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 owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 4,901 shares of company stock valued at $1,059,757. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Company 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.