BankPlus Trust Department Takes $1.30 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

BankPlus Trust Department purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 6,159 shares of the company’s stock, valued at approximately $1,295,000.

Several other institutional investors have also modified their holdings of LHX. OneDigital Investment Advisors LLC lifted its position in shares of L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after buying an additional 40 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its stake in L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after buying an additional 43 shares in the last quarter. Archer Investment Corp grew its position in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. HMS Capital Management LLC boosted its position in shares of L3Harris Technologies by 1.0% in the 3rd quarter. HMS Capital Management LLC now owns 4,850 shares of the company’s stock valued at $1,154,000 after purchasing an additional 47 shares during the period. Finally, Sigma Planning Corp raised its holdings in shares of L3Harris Technologies by 1.9% during the third quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock valued at $622,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $199.13 on Monday. The stock’s 50-day moving average is $210.26 and its 200-day moving average is $229.10. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The firm has a market cap of $37.50 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. 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 issued its earnings results 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%. Equities analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on LHX shares. Bank of America cut their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. UBS Group upped their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, Truist Financial lowered 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.67.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 23rd. The shares were 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 owns 6,812 shares in the company, valued at $1,455,383.80. The trade was a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 over the last ninety days. 0.82% of the stock is currently owned by company insiders.

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.