Heritage Investors Management Corp Reduces Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Heritage Investors Management Corp lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 30,081 shares of the company’s stock after selling 440 shares during the period. Heritage Investors Management Corp’s holdings in L3Harris Technologies were worth $6,325,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LHX. KCM Investment Advisors LLC increased its position in L3Harris Technologies by 43.8% during the third 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 in the last quarter. Fortem Financial Group LLC purchased a new stake in L3Harris Technologies during the 3rd quarter worth about $841,000. Czech National Bank raised its stake in L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after purchasing an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. raised 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 purchasing an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after purchasing an additional 4,321 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.8 %

Shares of LHX stock opened at $202.28 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm’s 50 day moving average price is $209.31 and its two-hundred day moving average price is $228.53. The stock has a market cap of $38.09 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate 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, analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 over the last quarter. 0.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LHX shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Wells Fargo & Company cut their price target on L3Harris Technologies from $300.00 to $269.00 and set an “overweight” rating for the company in a report on Wednesday. Truist Financial reduced their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Bank of America lowered their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Five equities 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.47.

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.