New England Research & Management Inc. Trims Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

New England Research & Management Inc. lowered its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 57.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,495 shares of the company's stock after selling 3,350 shares during the quarter. New England Research & Management Inc.'s holdings in L3Harris Technologies were worth $525,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in L3Harris Technologies by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company's stock valued at $1,122,630,000 after purchasing an additional 59,008 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company's stock worth $485,215,000 after buying an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA increased its position in L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock valued at $366,875,000 after acquiring an additional 85,882 shares during the last quarter. Raymond James & Associates boosted its position in shares of L3Harris Technologies by 3.0% during the third quarter. Raymond James & Associates now owns 984,888 shares of the company's stock valued at $234,275,000 after buying an additional 28,882 shares during the period. Finally, Mizuho Markets Americas LLC grew 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 last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LHX has been the topic of a number of research analyst reports. Raymond James cut shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective for the company in a report on Tuesday, November 26th. Truist Financial dropped their target price on shares of L3Harris Technologies from $300.00 to $283.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Barclays reduced their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Finally, StockNews.com raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $271.07.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, the insider now owns 10,340 shares of the company's stock, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 7,889 shares of company stock worth $1,800,572 over the last quarter. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

LHX traded down $2.27 during trading on Thursday, reaching $209.69. 1,001,418 shares of the company's stock were exchanged, compared to its average volume of 1,188,919. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The company's fifty day simple moving average is $221.93 and its 200-day simple moving average is $232.57. The stock has a market capitalization of $39.77 billion, a P/E ratio of 33.14, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. As a group, research analysts predict that L3Harris Technologies, Inc. will post 13.07 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.