Principal Securities Inc. Increases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Principal Securities Inc. grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 882 shares of the company’s stock after buying an additional 55 shares during the period. Principal Securities Inc.’s holdings in L3Harris Technologies were worth $185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after buying an additional 59,008 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after acquiring an additional 85,882 shares during the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after acquiring an additional 166,262 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of L3Harris Technologies by 29.9% during the 3rd 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 during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of L3Harris Technologies by 4.8% in the third quarter. The Manufacturers Life Insurance Company now owns 455,095 shares of the company’s stock valued at $108,253,000 after purchasing an additional 20,808 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley decreased their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Susquehanna decreased their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

L3Harris Technologies Trading Up 0.4 %

L3Harris Technologies stock opened at $199.89 on Tuesday. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The stock has a market cap of $37.64 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a 50-day moving average of $209.82 and a two-hundred day moving average of $228.88.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 in the last ninety days. Company insiders own 0.87% of the company’s stock.

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.