L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,088 shares of the company's stock after purchasing an additional 2,545 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in L3Harris Technologies were worth $4,645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LHX. Mather Group LLC. boosted its stake in L3Harris Technologies by 29.9% in the third quarter. Mather Group LLC. now owns 755 shares of the company's stock valued at $180,000 after acquiring an additional 174 shares in the last quarter. CWM LLC boosted its stake in L3Harris Technologies by 4.7% in the third quarter. CWM LLC now owns 5,954 shares of the company's stock valued at $1,416,000 after acquiring an additional 265 shares in the last quarter. Wedmont Private Capital boosted its stake in L3Harris Technologies by 12.4% in the third quarter. Wedmont Private Capital now owns 1,126 shares of the company's stock valued at $272,000 after acquiring an additional 124 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in L3Harris Technologies by 231.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,100 shares of the company's stock valued at $262,000 after acquiring an additional 768 shares in the last quarter. Finally, HCR Wealth Advisors boosted its stake in L3Harris Technologies by 3.2% in the third quarter. HCR Wealth Advisors now owns 12,391 shares of the company's stock valued at $2,948,000 after acquiring an additional 387 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LHX. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Susquehanna decreased their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Citigroup decreased their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a research note on Monday. Finally, Bank of America decreased their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $262.67.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were 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 $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 4,901 shares of company stock valued at $1,059,757. Corporate insiders own 0.82% of the company's stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded down $6.27 during mid-day trading on Wednesday, reaching $200.48. The company had a trading volume of 1,694,477 shares, compared to its average volume of 1,287,359. L3Harris Technologies, Inc. has a 1 year low of $199.56 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market capitalization of $38.03 billion, a P/E ratio of 25.47, a P/E/G ratio of 1.75 and a beta of 0.76. The stock's 50-day simple moving average is $215.60 and its 200-day simple moving average is $230.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued 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 7.04% and a return on equity of 13.11%. On average, equities analysts predict that L3Harris Technologies, Inc. will post 11.19 EPS for the current 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.