Cornerstone Wealth Group LLC Raises Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Cornerstone Wealth Group LLC increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,495 shares of the company’s stock after buying an additional 429 shares during the period. Cornerstone Wealth Group LLC’s holdings in L3Harris Technologies were worth $3,048,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LHX. Public Sector Pension Investment Board increased its stake in shares of L3Harris Technologies by 72.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 7,208 shares of the company’s stock worth $1,619,000 after purchasing an additional 3,032 shares during the last quarter. AXA S.A. purchased a new stake in L3Harris Technologies in the second quarter worth $292,000. AQR Capital Management LLC raised its stake in shares of L3Harris Technologies by 41.0% in the second quarter. AQR Capital Management LLC now owns 158,345 shares of the company’s stock valued at $35,561,000 after buying an additional 46,027 shares during the period. MBB Public Markets I LLC purchased a new position in shares of L3Harris Technologies during the 2nd quarter valued at $3,051,000. Finally, Mackenzie Financial Corp grew its stake in shares of L3Harris Technologies by 2.5% during the 2nd quarter. Mackenzie Financial Corp now owns 17,342 shares of the company’s stock worth $3,895,000 after acquiring an additional 416 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LHX shares. Susquehanna lowered their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Barclays cut 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. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.19.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 7,889 shares of company stock valued at $1,800,572 over the last 90 days. 0.82% of the stock is owned by insiders.

L3Harris Technologies Trading Down 0.5 %

Shares of LHX opened at $218.64 on Monday. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74. The company has a market capitalization of $41.47 billion, a P/E ratio of 34.54, a P/E/G ratio of 1.75 and a beta of 0.75. 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 firm’s 50 day simple moving average is $223.62 and its 200 day simple moving average is $232.86.

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

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.