L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,009,438 shares of the company’s stock after selling 30,394 shares during the quarter. L3Harris Technologies accounts for approximately 0.7% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 20th largest position. Allspring Global Investments Holdings LLC owned 1.06% of L3Harris Technologies worth $416,735,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in L3Harris Technologies by 29.9% in 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. International Assets Investment Management LLC lifted its position in shares of L3Harris Technologies by 23,627.0% in the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after buying an additional 169,878 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after buying an additional 166,262 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of L3Harris Technologies during the 3rd quarter valued at about $35,904,000. Finally, Rockefeller Capital Management L.P. raised its stake in L3Harris Technologies by 156.2% during the third quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock worth $35,259,000 after acquiring an additional 90,370 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Tuesday, November 26th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Barclays reduced their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Bank of America dropped their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Stock Down 0.9 %

LHX stock opened at $206.52 on Wednesday. The firm’s 50-day moving average is $216.27 and its two-hundred day moving average is $230.92. The company has a market capitalization of $39.17 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. 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 (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts forecast that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 over the last three months. Company 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.