Avantax Advisory Services Inc. Raises Position in L3Harris Technologies, Inc. (NYSE:LHX)

Avantax Advisory Services Inc. raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 36.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,051 shares of the company’s stock after purchasing an additional 3,221 shares during the period. Avantax Advisory Services Inc.’s holdings in L3Harris Technologies were worth $2,098,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LHX. Moors & Cabot Inc. boosted its holdings in L3Harris Technologies by 3.1% in the 3rd quarter. Moors & Cabot Inc. now owns 23,446 shares of the company’s stock valued at $4,082,000 after purchasing an additional 698 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in L3Harris Technologies by 2.5% in the third quarter. Oppenheimer & Co. Inc. now owns 32,512 shares of the company’s stock worth $5,661,000 after acquiring an additional 791 shares during the period. Kestra Private Wealth Services LLC raised its position in L3Harris Technologies by 8.4% in the third quarter. Kestra Private Wealth Services LLC now owns 28,574 shares of the company’s stock valued at $4,975,000 after purchasing an additional 2,206 shares during the period. Qsemble Capital Management LP acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at $522,000. Finally, Beacon Investment Advisors LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth $765,000. Institutional investors and hedge funds own 81.33% of the company’s stock.

Insiders Place Their Bets

In other news, insider Edward J. Zoiss sold 4,742 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $190.00, for a total value of $900,980.00. Following the sale, the insider now owns 27,183 shares in the company, valued at approximately $5,164,770. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LHX has been the subject of a number of recent analyst reports. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Deutsche Bank Aktiengesellschaft raised L3Harris Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $184.00 to $240.00 in a research report on Friday, December 15th. Royal Bank of Canada raised their price target on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Truist Financial boosted their price objective on L3Harris Technologies from $224.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, Raymond James raised their target price on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $225.29.

Read Our Latest Report on L3Harris Technologies

L3Harris Technologies Stock Up 0.3 %

LHX opened at $207.71 on Wednesday. The company has a market cap of $39.37 billion, a PE ratio of 32.25, a price-to-earnings-growth ratio of 2.42 and a beta of 0.66. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $219.31. The firm has a 50 day moving average price of $205.33 and a 200 day moving average price of $188.81.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.27 earnings per share. Sell-side analysts expect that L3Harris Technologies, Inc. will post 12.76 earnings per share for the current year.

L3Harris Technologies Company Profile

(Free Report)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

See Also

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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