Burney Co. Sells 292 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Burney Co. cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.5% in the 4th quarter, HoldingsChannel reports. The firm owned 60,489 shares of the company’s stock after selling 292 shares during the period. Burney Co.’s holdings in L3Harris Technologies were worth $12,720,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. KCM Investment Advisors LLC raised its position in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after buying an additional 5,868 shares in the last quarter. Fortem Financial Group LLC purchased a new stake in L3Harris Technologies during the third quarter valued at about $841,000. Sanctuary Advisors LLC raised its position in L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after purchasing an additional 3,740 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the sale, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 7,889 shares of company stock valued at $1,800,572 in the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $214.17 on Wednesday. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The stock has a market cap of $40.62 billion, a price-to-earnings ratio of 33.83, a PEG ratio of 1.86 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The business’s fifty day moving average is $229.70 and its 200 day moving average is $233.23.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. L3Harris Technologies’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $3.19 EPS. Research analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on LHX shares. Susquehanna dropped their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Citigroup upped their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $265.25.

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.