MGB Wealth Management LLC Trims Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

MGB Wealth Management LLC decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 38.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,179 shares of the company’s stock after selling 750 shares during the period. MGB Wealth Management LLC’s holdings in L3Harris Technologies were worth $248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after buying an additional 59,008 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of L3Harris Technologies by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after acquiring an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in L3Harris Technologies by 5.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after acquiring an additional 85,882 shares during the period. Raymond James & Associates grew its holdings in L3Harris Technologies by 3.0% during the 3rd quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock worth $234,275,000 after acquiring an additional 28,882 shares in the last quarter. Finally, Mizuho Markets Americas LLC increased its position in L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after purchasing an additional 166,262 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LHX shares. Susquehanna dropped their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Bank of America cut their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Morgan Stanley decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, UBS Group lifted their target price 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 research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.67.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the sale, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 4,901 shares of company stock worth $1,059,757. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Stock Down 3.0 %

NYSE:LHX opened at $200.48 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a twelve month low of $199.56 and a twelve month high of $265.74. The company has a market cap of $38.03 billion, a PE ratio of 25.47, a P/E/G ratio of 1.75 and a beta of 0.76. The company’s 50 day moving average is $215.60 and its two-hundred day moving average is $230.76.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Analysts anticipate that L3Harris Technologies, Inc. will post 11.19 EPS 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.