Principal Financial Group Inc. Sells 3,665 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Principal Financial Group Inc. lowered its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,604 shares of the company's stock after selling 3,665 shares during the quarter. Principal Financial Group Inc. owned 0.11% of L3Harris Technologies worth $45,547,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $30,000. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after buying an additional 43 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the fourth quarter valued at $33,000. Kennebec Savings Bank acquired a new stake in L3Harris Technologies in the third quarter valued at approximately $36,000. Finally, New Millennium Group LLC lifted its holdings in L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company's stock worth $39,000 after purchasing an additional 163 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company's stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 4,901 shares of company stock valued at $1,059,757. Company insiders own 0.82% of the company's stock.

L3Harris Technologies Trading Up 1.0 %

LHX traded up $1.90 during mid-day trading on Friday, reaching $199.13. The stock had a trading volume of 1,656,475 shares, compared to its average volume of 1,357,222. The firm's fifty day simple moving average is $210.74 and its two-hundred day simple moving average is $229.26. The stock has a market capitalization of $37.50 billion, a P/E ratio of 25.30, a P/E/G ratio of 2.39 and a beta of 0.76. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data 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 7.04% and a return on equity of 13.11%. On average, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Bank of America cut their price target on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $262.67.

L3Harris Technologies Profile

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.