Transcend Capital Advisors LLC Sells 262 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Transcend Capital Advisors LLC cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,379 shares of the company’s stock after selling 262 shares during the quarter. Transcend Capital Advisors LLC’s holdings in L3Harris Technologies were worth $500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. Cordatus Wealth Management LLC raised its holdings in shares of L3Harris Technologies by 1.0% in the 4th quarter. Cordatus Wealth Management LLC now owns 7,321 shares of the company’s stock valued at $1,539,000 after purchasing an additional 69 shares during the period. Nicholson Wealth Management Group LLC raised its holdings in shares of L3Harris Technologies by 3.5% in the 4th quarter. Nicholson Wealth Management Group LLC now owns 7,060 shares of the company’s stock valued at $1,485,000 after purchasing an additional 237 shares during the period. Citizens National Bank Trust Department raised its holdings in shares of L3Harris Technologies by 1.3% in the 4th quarter. Citizens National Bank Trust Department now owns 5,758 shares of the company’s stock valued at $1,211,000 after purchasing an additional 75 shares during the period. Zullo Investment Group Inc. grew its stake in L3Harris Technologies by 3.2% in the 4th quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock valued at $361,000 after buying an additional 54 shares during the last quarter. Finally, Boston Financial Mangement LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at about $201,000. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on LHX shares. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Morgan Stanley decreased their price target on shares of 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. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. UBS Group upped their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft decreased 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 note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $199.13 on Friday. The company has a 50 day moving average of $210.26 and a 200-day moving average of $229.08. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a market cap of $37.50 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping 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%. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 4,901 shares of company stock valued at $1,059,757. Company insiders own 0.82% of the company’s stock.

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.