State of Alaska Department of Revenue Acquires 7,590 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

State of Alaska Department of Revenue boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 34.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,628 shares of the company’s stock after purchasing an additional 7,590 shares during the period. State of Alaska Department of Revenue’s holdings in L3Harris Technologies were worth $6,229,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after acquiring an additional 178,407 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after purchasing an additional 169,878 shares in the last quarter. Mizuho Markets Americas LLC raised its holdings in L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in L3Harris Technologies during the third quarter valued at $35,904,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of L3Harris Technologies by 156.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock valued at $35,259,000 after buying an additional 90,370 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX opened at $206.05 on Friday. The firm has a market capitalization of $39.08 billion, a P/E ratio of 26.18, a PEG ratio of 1.74 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, Inc. has a one year low of $200.18 and a one year high of $265.74. The business has a fifty day moving average of $217.76 and a 200 day moving average of $231.49.

L3Harris Technologies (NYSE:LHX) last released its quarterly 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 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 13.8 EPS for the current year.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction 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 directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 4,901 shares of company stock worth $1,059,757. 0.82% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on LHX. Deutsche Bank Aktiengesellschaft cut their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Truist Financial reduced their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Finally, Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Five investment 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, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $263.07.

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.