Traynor Capital Management Inc. Raises Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Traynor Capital Management Inc. increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 17.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,874 shares of the company’s stock after purchasing an additional 5,825 shares during the period. L3Harris Technologies accounts for about 0.6% of Traynor Capital Management Inc.’s holdings, making the stock its 29th biggest holding. Traynor Capital Management Inc.’s holdings in L3Harris Technologies were worth $8,385,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Archer Investment Corp increased its stake in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies during the third quarter worth about $36,000. Trust Co. of Vermont boosted its holdings in shares of L3Harris Technologies by 78.9% in the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after acquiring an additional 86 shares during the period. MCF Advisors LLC increased its stake in L3Harris Technologies by 84.0% in the fourth quarter. MCF Advisors LLC now owns 241 shares of the company’s stock valued at $51,000 after purchasing an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth $64,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

LHX opened at $220.02 on Thursday. The business has a 50 day moving average price of $225.58 and a two-hundred day moving average price of $233.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market capitalization of $41.73 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 1.78 and a beta of 0.75. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 EPS. Research analysts predict that L3Harris Technologies, Inc. will post 13.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LHX shares. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Citigroup raised their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, Truist Financial lowered their price objective on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

Insider Activity at L3Harris Technologies

In related 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 transaction of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,889 shares of company stock worth $1,800,572 in the last quarter. 0.82% of the stock is owned by company 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.