Tufton Capital Management Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Tufton Capital Management boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,798 shares of the company’s stock after acquiring an additional 81 shares during the quarter. Tufton Capital Management’s holdings in L3Harris Technologies were worth $2,481,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth $27,000. Roxbury Financial LLC acquired a new position in L3Harris Technologies during the 4th quarter valued at about $30,000. Archer Investment Corp increased its position 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 buying an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in L3Harris Technologies during the 4th quarter valued at about $33,000. Finally, Kennebec Savings Bank acquired a new position in L3Harris Technologies during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LHX. Wells Fargo & Company reduced their target price on L3Harris Technologies from $300.00 to $269.00 and set an “overweight” rating on the stock in a research report on Wednesday. Bank of America reduced their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report 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 research report on Friday, January 31st. Truist Financial cut their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.47.

L3Harris Technologies Stock Up 1.3 %

L3Harris Technologies stock opened at $204.97 on Friday. The firm has a market cap of $38.60 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The business’s 50-day moving average price is $209.20 and its 200 day moving average price is $228.36. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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 11.12 earnings per share for the current year.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 4,901 shares of company stock worth $1,059,757. 0.87% of the stock is owned by corporate insiders.

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.