Portfolio Design Labs LLC Sells 2,710 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Portfolio Design Labs LLC lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 46.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,152 shares of the company's stock after selling 2,710 shares during the quarter. Portfolio Design Labs LLC's holdings in L3Harris Technologies were worth $663,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LHX. Peterson Wealth Services lifted its stake in shares of L3Harris Technologies by 9.8% during the 4th quarter. Peterson Wealth Services now owns 1,709 shares of the company's stock valued at $359,000 after buying an additional 153 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at about $3,587,000. Core Alternative Capital lifted its position in shares of L3Harris Technologies by 4.2% in the fourth quarter. Core Alternative Capital now owns 18,561 shares of the company's stock valued at $3,903,000 after acquiring an additional 750 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of L3Harris Technologies by 18.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 34,958 shares of the company's stock worth $7,351,000 after acquiring an additional 5,413 shares during the period. Finally, Empowered Funds LLC grew its position in shares of L3Harris Technologies by 24.3% during the fourth quarter. Empowered Funds LLC now owns 19,735 shares of the company's stock worth $4,150,000 after purchasing an additional 3,852 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 over the last 90 days. Insiders own 0.82% of the company's stock.

L3Harris Technologies Trading Down 1.0 %

LHX traded down $1.98 during trading on Friday, reaching $198.02. The company had a trading volume of 1,565,377 shares, compared to its average volume of 1,225,930. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business has a 50 day simple moving average of $213.30 and a 200-day simple moving average of $230.15. The stock has a market cap of $37.56 billion, a P/E ratio of 25.16, a PEG ratio of 1.75 and a beta of 0.76. 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 announced 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 net margin of 7.04% and a return on equity of 13.11%. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LHX shares. Sanford C. Bernstein upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research report on Thursday, January 2nd. Barclays reduced their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Morgan Stanley dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Finally, Susquehanna reduced their target price on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $262.67.

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.