Van ECK Associates Corp Has $2.78 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Van ECK Associates Corp raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1,015.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,224 shares of the company’s stock after acquiring an additional 12,039 shares during the period. Van ECK Associates Corp’s holdings in L3Harris Technologies were worth $2,781,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Certuity LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at approximately $200,000. Peterson Wealth Services grew its stake in shares of L3Harris Technologies by 9.8% in the 4th quarter. Peterson Wealth Services now owns 1,709 shares of the company’s stock valued at $359,000 after purchasing an additional 153 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $3,587,000. Core Alternative Capital grew its stake in shares of L3Harris Technologies by 4.2% in the 4th quarter. Core Alternative Capital now owns 18,561 shares of the company’s stock valued at $3,903,000 after purchasing an additional 750 shares during the period. Finally, Kestra Private Wealth Services LLC grew its stake in shares of L3Harris Technologies by 18.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 34,958 shares of the company’s stock valued at $7,351,000 after purchasing an additional 5,413 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of several analyst reports. Barclays lowered their price objective 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. Susquehanna lowered their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, UBS Group upped their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $262.67.

Insider Activity

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 in the last 90 days. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Up 1.3 %

Shares of LHX opened at $197.19 on Friday. The firm has a market capitalization of $37.13 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 2.40 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 business’s fifty day moving average price is $210.74 and its two-hundred day moving average price is $229.26. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 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%. On average, analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

About L3Harris Technologies

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.