D.B. Root & Company LLC Sells 692 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

D.B. Root & Company LLC lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 26.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,903 shares of the company’s stock after selling 692 shares during the quarter. D.B. Root & Company LLC’s holdings in L3Harris Technologies were worth $400,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of LHX. JPMorgan Chase & Co. grew its stake in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of L3Harris Technologies by 65.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after purchasing an additional 171,420 shares during the period. International Assets Investment Management LLC boosted its stake in 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 purchasing an additional 169,878 shares during the period. Mizuho Markets Americas LLC grew its holdings in L3Harris Technologies by 25.3% during 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 in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of L3Harris Technologies during the third quarter valued at about $35,904,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction 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 transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Susquehanna cut their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on shares of L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Tuesday, November 26th. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $266.19.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $220.02 on Thursday. The firm has a fifty day simple moving average of $224.75 and a two-hundred day simple moving average of $232.95. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a market capitalization of $41.73 billion, a PE ratio of 34.76, a P/E/G ratio of 1.78 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 13.11% and a net margin of 5.71%. L3Harris Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 EPS. Research analysts expect that L3Harris Technologies, Inc. will post 13.07 EPS for the current year.

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.