abrdn plc Boosts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

abrdn plc grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 14.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,801 shares of the company's stock after acquiring an additional 2,530 shares during the quarter. abrdn plc's holdings in L3Harris Technologies were worth $4,139,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Mather Group LLC. raised its stake in L3Harris Technologies by 29.9% during the 3rd quarter. Mather Group LLC. now owns 755 shares of the company's stock valued at $180,000 after buying an additional 174 shares during the last quarter. CWM LLC lifted its holdings in shares of L3Harris Technologies by 4.7% during the 3rd quarter. CWM LLC now owns 5,954 shares of the company's stock valued at $1,416,000 after buying an additional 265 shares during the period. Wedmont Private Capital lifted its holdings in shares of L3Harris Technologies by 12.4% during the 3rd quarter. Wedmont Private Capital now owns 1,126 shares of the company's stock valued at $272,000 after buying an additional 124 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of L3Harris Technologies by 231.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,100 shares of the company's stock valued at $262,000 after buying an additional 768 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of L3Harris Technologies by 6,787.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,857 shares of the company's stock valued at $917,000 after buying an additional 3,801 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the business's stock in a transaction 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 sale, the insider now owns 6,812 shares in the company, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The sale 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 worth $1,059,757 over the last quarter. Insiders own 0.82% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Truist Financial lowered their price target on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Citigroup lowered their price target on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a report on Monday. Bank of America lowered their price target on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Finally, StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $262.67.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded down $0.82 on Thursday, hitting $199.79. 2,142,276 shares of the company traded hands, compared to its average volume of 1,316,843. The stock has a market capitalization of $37.89 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52 week low of $198.43 and a 52 week high of $265.74. The business has a 50-day simple moving average of $214.80 and a 200 day simple moving average of $230.55.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) 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%. Research analysts expect that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

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.