Harrell Investment Partners LLC Trims Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Harrell Investment Partners LLC decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,467 shares of the company’s stock after selling 143 shares during the period. Harrell Investment Partners LLC’s holdings in L3Harris Technologies were worth $1,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LHX. KCM Investment Advisors LLC grew its position in L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares during the period. Fortem Financial Group LLC acquired a new stake in L3Harris Technologies during the 3rd quarter worth about $841,000. Czech National Bank grew its position in L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after purchasing an additional 2,480 shares during the period. Principal Financial Group Inc. grew its position in L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares during the period. Finally, JPMorgan Chase & Co. grew its position in L3Harris Technologies by 29.9% during the 3rd 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. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.5 %

Shares of L3Harris Technologies stock opened at $218.64 on Friday. The firm has a market capitalization of $41.47 billion, a PE ratio of 34.54, a P/E/G ratio of 1.75 and a beta of 0.75. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The firm’s 50-day moving average price is $223.62 and its 200 day moving average price is $232.81. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

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

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 7,889 shares of company stock valued at $1,800,572 in the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on LHX. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Susquehanna cut their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada raised their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Truist Financial dropped their target price on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

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.