Cutter & CO Brokerage Inc. Raises Holdings in L3Harris Technologies Inc (NYSE:LHX)

Cutter & CO Brokerage Inc. raised its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 6.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,442 shares of the company's stock after purchasing an additional 1,082 shares during the quarter. L3Harris Technologies makes up about 0.9% of Cutter & CO Brokerage Inc.'s portfolio, making the stock its 28th biggest holding. Cutter & CO Brokerage Inc.'s holdings in L3Harris Technologies were worth $3,860,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $26,000. Beacon Capital Management LLC boosted its stake in shares of L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after acquiring an additional 111 shares during the period. Finally, Park Square Financial Group LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $37,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

LHX stock traded up $0.68 during mid-day trading on Thursday, hitting $264.34. 412,712 shares of the stock were exchanged, compared to its average volume of 1,158,288. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. The business has a fifty day moving average price of $244.78 and a 200 day moving average price of $222.76. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $266.21. The stock has a market capitalization of $49.42 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 2.04 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the previous year, the company posted $3.06 earnings per share. The company's revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on LHX. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday. Truist Financial upped their target price on L3Harris Technologies from $260.00 to $279.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Citigroup reissued a "buy" rating and set a $300.00 price target (up previously from $280.00) on shares of L3Harris Technologies in a report on Monday. UBS Group boosted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Finally, Jefferies Financial Group lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $263.81.

Insider Activity

In related news, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the transaction, the insider owned 25,325 shares in the company, valued at $6,204,625. The trade was a 7.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the sale, the chief executive officer directly owned 145,572 shares in the company, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

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.