Atomi Financial Group Inc. Increases Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Atomi Financial Group Inc. boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,487 shares of the company’s stock after buying an additional 474 shares during the period. Atomi Financial Group Inc.’s holdings in L3Harris Technologies were worth $733,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AE Wealth Management LLC increased its stake in shares of L3Harris Technologies by 64.0% in the second quarter. AE Wealth Management LLC now owns 2,772 shares of the company’s stock worth $623,000 after acquiring an additional 1,082 shares during the period. Pacer Advisors Inc. grew its position in L3Harris Technologies by 1.2% during the 2nd quarter. Pacer Advisors Inc. now owns 13,593 shares of the company’s stock worth $3,053,000 after purchasing an additional 166 shares during the period. ProShare Advisors LLC grew its position in L3Harris Technologies by 8.6% during the 2nd quarter. ProShare Advisors LLC now owns 26,202 shares of the company’s stock worth $5,884,000 after purchasing an additional 2,075 shares during the period. Frank Rimerman Advisors LLC raised its stake in shares of L3Harris Technologies by 21,733.3% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,310 shares of the company’s stock valued at $294,000 after buying an additional 1,304 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of L3Harris Technologies by 72.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,208 shares of the company’s stock valued at $1,619,000 after buying an additional 3,032 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 7,889 shares of company stock worth $1,800,572 in the last ninety days. Insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, Barclays dropped their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.19.

L3Harris Technologies Trading Down 1.3 %

Shares of LHX opened at $220.02 on Thursday. The firm’s fifty day moving average is $225.58 and its two-hundred day moving average is $233.04. The stock has a market cap of $41.73 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 1.74 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) 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 company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the prior year, the company earned $3.19 EPS. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. Research analysts forecast that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

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.