US Bancorp DE Sells 2,702 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

US Bancorp DE lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 260,898 shares of the company’s stock after selling 2,702 shares during the period. US Bancorp DE owned approximately 0.14% of L3Harris Technologies worth $54,862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in LHX. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies during the 4th quarter worth approximately $27,000. Archer Investment Corp increased its holdings 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 acquiring an additional 43 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $30,000. Kennebec Savings Bank bought a new position in shares of L3Harris Technologies in the 3rd quarter worth $36,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies in the 4th quarter valued at $33,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.7 %

Shares of L3Harris Technologies stock opened at $206.23 on Friday. The stock has a fifty day moving average price of $209.05 and a 200-day moving average price of $228.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market cap of $38.84 billion, a PE ratio of 26.20, a P/E/G ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on LHX. Bank of America lowered 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. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $300.00 to $269.00 and set an “overweight” rating on the stock in a report on Wednesday. Truist Financial cut their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Finally, Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $261.47.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 4,901 shares of company stock valued at $1,059,757. 0.82% of the stock is owned by company insiders.

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.