Simmons Bank Sells 265 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Simmons Bank cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,307 shares of the company’s stock after selling 265 shares during the quarter. Simmons Bank’s holdings in L3Harris Technologies were worth $485,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. National Pension Service lifted its stake in shares of L3Harris Technologies by 42.1% in the 4th quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after acquiring an additional 179,539 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies during the 4th quarter valued at $27,000. Illinois Municipal Retirement Fund grew its holdings in L3Harris Technologies by 62.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 9,257 shares of the company’s stock worth $1,947,000 after acquiring an additional 3,546 shares during the last quarter. Commonwealth Retirement Investments LLC increased its position in shares of L3Harris Technologies by 2.1% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 7,277 shares of the company’s stock valued at $1,530,000 after acquiring an additional 152 shares during the period. Finally, Brown Financial Advisors boosted its holdings in shares of L3Harris Technologies by 4.9% during the fourth quarter. Brown Financial Advisors now owns 1,962 shares of the company’s stock worth $413,000 after purchasing an additional 91 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Up 1.3 %

NYSE LHX opened at $204.97 on Friday. The stock’s fifty day moving average price is $209.20 and its 200-day moving average price is $228.36. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a market cap of $38.60 billion, a P/E ratio of 26.04, a P/E/G ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74.

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

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 4,901 shares of company stock valued at $1,059,757. 0.87% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on LHX. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Barclays cut their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Truist Financial decreased their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. UBS Group boosted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Susquehanna lowered their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $261.47.

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.