Yacktman Asset Management LP lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 601,308 shares of the company's stock after selling 39,388 shares during the period. L3Harris Technologies comprises about 1.5% of Yacktman Asset Management LP's holdings, making the stock its 28th largest holding. Yacktman Asset Management LP owned approximately 0.32% of L3Harris Technologies worth $126,443,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in L3Harris Technologies by 1.3% during 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. Allspring Global Investments Holdings LLC increased its holdings in L3Harris Technologies by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company's stock valued at $485,215,000 after purchasing an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock worth $366,875,000 after buying an additional 85,882 shares during the period. Raymond James & Associates grew its position in shares of L3Harris Technologies by 3.0% in the 3rd quarter. Raymond James & Associates now owns 984,888 shares of the company's stock worth $234,275,000 after buying an additional 28,882 shares during the last quarter. Finally, Mizuho Markets Americas LLC increased its stake in shares of L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock valued at $195,704,000 after buying an additional 166,262 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.
L3Harris Technologies Stock Down 1.3 %
Shares of NYSE:LHX traded down $2.66 during trading on Friday, reaching $197.35. 941,545 shares of the stock traded hands, compared to its average volume of 1,302,924. The stock has a market cap of $37.43 billion, a P/E ratio of 25.08, 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. The stock has a 50-day moving average of $214.03 and a two-hundred day moving average of $230.33. L3Harris Technologies, Inc. has a 52-week low of $196.67 and a 52-week high of $265.74.
L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $3.47 EPS 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, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 4,901 shares of company stock valued at $1,059,757. 0.82% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research firms recently weighed in on LHX. Morgan Stanley cut 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 report on Tuesday, February 4th. StockNews.com raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Bank of America decreased their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Argus raised L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective on the stock in a research report on Tuesday, November 26th. Finally, Truist Financial decreased their target price on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $262.67.
View Our Latest Stock Report on LHX
About L3Harris Technologies
(
Free Report)
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.
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