Mcdonald Partners LLC Decreases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Mcdonald Partners LLC cut its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,932 shares of the company's stock after selling 2,159 shares during the quarter. L3Harris Technologies comprises 1.1% of Mcdonald Partners LLC's investment portfolio, making the stock its 21st biggest position. Mcdonald Partners LLC's holdings in L3Harris Technologies were worth $4,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Creative Planning raised its position in shares of L3Harris Technologies by 1.2% during the 3rd quarter. Creative Planning now owns 41,588 shares of the company's stock valued at $9,893,000 after buying an additional 512 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of L3Harris Technologies by 2.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,869 shares of the company's stock valued at $682,000 after buying an additional 73 shares in the last quarter. Blue Trust Inc. raised its position in shares of L3Harris Technologies by 96.7% during the 3rd quarter. Blue Trust Inc. now owns 653 shares of the company's stock valued at $147,000 after buying an additional 321 shares in the last quarter. Cyndeo Wealth Partners LLC purchased a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $203,000. Finally, OLD National Bancorp IN raised its position in shares of L3Harris Technologies by 73.3% during the 3rd quarter. OLD National Bancorp IN now owns 1,879 shares of the company's stock valued at $447,000 after buying an additional 795 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares of the company's stock, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 in the last three months. Company insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

LHX has been the topic of several recent research reports. Citigroup reduced their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Raymond James lowered shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Susquehanna reduced their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a 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 target for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.67.

L3Harris Technologies Trading Up 1.0 %

Shares of LHX traded up $1.90 during trading hours 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's fifty day moving average price is $210.26 and its two-hundred day moving average price is $229.06. The company has a market capitalization of $37.50 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 2.39 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74.

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, beating 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%. Equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 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.