L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 44.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,205 shares of the company’s stock after selling 948 shares during the quarter. Wealthspire Advisors LLC’s holdings in L3Harris Technologies were worth $253,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LHX. KCM Investment Advisors LLC lifted its position in shares of L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares in the last quarter. Fortem Financial Group LLC acquired a new stake in shares of L3Harris Technologies in the third quarter valued at approximately $841,000. Czech National Bank boosted its holdings in shares of L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after acquiring an additional 2,480 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of 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 period. Finally, Principal Financial Group Inc. lifted its holdings in shares of L3Harris Technologies by 2.0% during the third 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 during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 1.3 %

Shares of L3Harris Technologies stock opened at $204.97 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm has a market cap of $38.60 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The business has a fifty day simple moving average of $209.20 and a 200-day simple moving average of $228.36.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred 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 sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,901 shares of company stock valued at $1,059,757 in the last 90 days. 0.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LHX. Citigroup reduced their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Bank of America dropped their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Susquehanna dropped their price objective 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. lowered their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $261.47.

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.