HCR Wealth Advisors Lowers Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

HCR Wealth Advisors trimmed its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,332 shares of the company’s stock after selling 59 shares during the period. HCR Wealth Advisors’ holdings in L3Harris Technologies were worth $2,593,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LHX. Armstrong Advisory Group Inc. lifted its position in L3Harris Technologies by 1,660.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company’s stock valued at $74,000 after purchasing an additional 332 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of L3Harris Technologies by 54.6% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,875 shares of the company’s stock worth $1,656,000 after buying an additional 2,780 shares during the last quarter. Community Trust & Investment Co. lifted its holdings in shares of L3Harris Technologies by 2.5% during the 4th quarter. Community Trust & Investment Co. now owns 64,688 shares of the company’s stock worth $13,603,000 after acquiring an additional 1,580 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $2,729,000. Finally, SeaCrest Wealth Management LLC grew its position in L3Harris Technologies by 4.4% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,755 shares of the company’s stock worth $369,000 after acquiring an additional 74 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction 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 directly owns 5,049 shares in the company, 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 SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Citigroup increased their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $265.25.

L3Harris Technologies Price Performance

LHX opened at $214.03 on Thursday. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The company has a market cap of $40.60 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $229.70 and a two-hundred day simple moving average of $233.23.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. L3Harris Technologies’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $3.19 EPS. Research analysts predict that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal 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.