L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Portfolio Design Labs LLC

Portfolio Design Labs LLC cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 46.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,152 shares of the company’s stock after selling 2,710 shares during the period. Portfolio Design Labs LLC’s holdings in L3Harris Technologies were worth $663,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. KCM Investment Advisors LLC increased its holdings in L3Harris Technologies by 43.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after buying an additional 5,868 shares during the period. Fortem Financial Group LLC purchased a new stake in shares of L3Harris Technologies in the 3rd quarter valued at $841,000. Czech National Bank increased its stake in shares of L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after acquiring an additional 2,480 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of L3Harris Technologies by 29.9% during the third 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 last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of L3Harris Technologies by 2.0% during the third 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 last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $206.52 on Wednesday. The firm has a 50-day simple moving average of $216.27 and a 200-day simple moving average of $230.92. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $39.17 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 in the last quarter. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LHX. Truist Financial cut their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Morgan Stanley lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. UBS Group upped their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

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.