CogentBlue Wealth Advisors LLC Acquires New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

CogentBlue Wealth Advisors LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,382 shares of the company’s stock, valued at approximately $501,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Roxbury Financial LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $30,000. Archer Investment Corp increased its holdings in shares of L3Harris Technologies by 48.9% in the third 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 stake in shares of L3Harris Technologies during the 4th quarter valued at $33,000. Kennebec Savings Bank acquired a new position in shares of L3Harris Technologies in the 3rd quarter worth $36,000. Finally, New Millennium Group LLC raised its position in shares of L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

LHX stock opened at $194.80 on Thursday. The company has a market capitalization of $36.95 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 2.43 and a beta of 0.76. L3Harris Technologies, Inc. has a 12 month low of $194.25 and a 12 month high of $265.74. The firm has a 50 day moving average of $211.28 and a two-hundred day moving average of $229.48. 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 released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their target price for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $262.67.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 4,901 shares of company stock valued at $1,059,757 over the last 90 days. 0.87% of the stock is currently owned by company 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.