Harrell Investment Partners LLC Reduces Position in L3Harris Technologies, Inc. (NYSE:LHX)

Harrell Investment Partners LLC lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,467 shares of the company’s stock after selling 143 shares during the period. Harrell Investment Partners LLC’s holdings in L3Harris Technologies were worth $1,780,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on LHX. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Thursday, October 10th. Royal Bank of Canada lifted their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $266.19.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $218.64 on Friday. The business’s fifty day simple moving average is $223.62 and its 200-day simple moving average is $232.81. The company has a market cap of $41.47 billion, a PE ratio of 34.54, a PEG ratio of 1.75 and a beta of 0.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74.

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, 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 return on equity of 13.11% and a net margin of 5.71%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.19 earnings per share. Analysts expect that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 7,889 shares of company stock valued at $1,800,572. Corporate insiders own 0.82% 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.