L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,318 shares of the company's stock after selling 3,079 shares during the period. Oppenheimer & Co. Inc.'s holdings in L3Harris Technologies were worth $6,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. KCM Investment Advisors LLC increased its holdings in shares of L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock valued at $4,584,000 after acquiring an additional 5,868 shares in the last quarter. Fortem Financial Group LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth $841,000. Czech National Bank grew its holdings in shares of L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company's stock valued at $8,648,000 after buying an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of L3Harris Technologies by 29.9% in the third 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 period. Finally, Principal Financial Group Inc. increased 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 worth $52,395,000 after buying an additional 4,321 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

LHX stock traded up $1.33 during trading on Friday, hitting $206.23. The stock had a trading volume of 1,245,205 shares, compared to its average volume of 1,351,318. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company's 50-day moving average price is $209.05 and its two-hundred day moving average price is $228.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The stock has a market capitalization of $38.84 billion, a P/E ratio of 26.20, a PEG ratio of 2.42 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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 return on equity of 13.11% and a net margin of 7.04%. As a group, research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 in the last 90 days. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent research reports. Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price on the stock in a research note on Tuesday, November 26th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Morgan Stanley decreased their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. UBS Group raised their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and cut their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.