Americana Partners LLC Cuts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Americana Partners LLC lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 96.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,080 shares of the company's stock after selling 27,018 shares during the quarter. Americana Partners LLC's holdings in L3Harris Technologies were worth $227,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LHX. Geode Capital Management LLC grew its position in shares of L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company's stock valued at $1,122,630,000 after buying an additional 59,008 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock valued at $366,875,000 after purchasing an additional 85,882 shares during the period. Mizuho Markets Americas LLC raised its holdings in L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock worth $195,704,000 after purchasing an additional 166,262 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of L3Harris Technologies by 29.9% in 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. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of L3Harris Technologies by 4.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 455,095 shares of the company's stock valued at $108,253,000 after purchasing an additional 20,808 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LHX. Raymond James lowered shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Sanford C. Bernstein upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Bank of America lowered their target price on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. UBS Group lifted their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $262.67.

L3Harris Technologies Price Performance

LHX stock traded up $1.90 during mid-day trading on Friday, reaching $199.13. 1,656,475 shares of the company traded hands, compared to its average volume of 1,357,222. The company has a fifty day moving average price of $210.74 and a 200-day moving average price of $229.26. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a market capitalization of $37.50 billion, a P/E ratio of 25.30, a P/E/G ratio of 2.39 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its 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 return on equity of 13.11% and a net margin of 7.04%. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the transaction, the insider now owns 8,576 shares of the company's stock, valued at $1,917,765.12. The trade was a 17.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 4,901 shares of company stock valued at $1,059,757 over the last three months. 0.82% of the stock is owned by corporate insiders.

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.