Rhumbline Advisers Cuts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Rhumbline Advisers lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 322,771 shares of the company's stock after selling 4,644 shares during the period. Rhumbline Advisers owned about 0.17% of L3Harris Technologies worth $67,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. KCM Investment Advisors LLC raised its position in L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock valued at $4,584,000 after acquiring an additional 5,868 shares in the last quarter. Fortem Financial Group LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at approximately $841,000. Czech National Bank lifted its stake in shares of L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company's stock valued at $8,648,000 after purchasing an additional 2,480 shares during the period. JPMorgan Chase & Co. boosted its holdings in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock worth $184,245,000 after buying an additional 178,407 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock worth $52,395,000 after buying an additional 4,321 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Bank of America dropped their price objective on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Citigroup decreased their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Royal Bank of Canada reiterated a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Argus raised L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Finally, Morgan Stanley lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $262.67.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 in the last quarter. Insiders own 0.82% of the company's stock.

L3Harris Technologies Trading Up 1.3 %

Shares of LHX traded up $2.54 during mid-day trading on Thursday, reaching $197.19. The stock had a trading volume of 1,528,751 shares, compared to its average volume of 1,348,146. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The firm has a market cap of $37.13 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 2.40 and a beta of 0.76. The business's fifty day moving average is $211.28 and its 200 day moving average is $229.48. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly 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 net margin of 7.04% and a return on equity of 13.11%. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

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.