Perigon Wealth Management LLC Buys 5,186 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Perigon Wealth Management LLC increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 210.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,645 shares of the company’s stock after acquiring an additional 5,186 shares during the quarter. Perigon Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,670,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. KCM Investment Advisors LLC boosted its holdings in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after buying an additional 5,868 shares during the period. Fortem Financial Group LLC bought a new stake in shares of L3Harris Technologies during the 3rd quarter worth about $841,000. Czech National Bank boosted its holdings in shares of L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after buying an additional 2,480 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after purchasing an additional 4,321 shares during the period. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LHX shares. Truist Financial cut their price objective on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $271.07.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares in the company, valued at $1,917,765.12. This represents a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 7,889 shares of company stock worth $1,800,572 in the last three months. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $212.12 on Thursday. The firm has a 50 day moving average of $222.57 and a 200-day moving average of $232.71. The stock has a market capitalization of $40.23 billion, a PE ratio of 33.51, a PEG ratio of 1.75 and a beta of 0.75. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

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.