US Bancorp DE cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 260,898 shares of the company's stock after selling 2,702 shares during the period. US Bancorp DE owned about 0.14% of L3Harris Technologies worth $54,862,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies in the 4th quarter valued at $27,000. Roxbury Financial LLC acquired a new stake in L3Harris Technologies in the 4th quarter valued at $30,000. Archer Investment Corp boosted 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 in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies in the 4th quarter valued at $33,000. Finally, Kennebec Savings Bank acquired a new stake in L3Harris Technologies in the 3rd quarter valued at $36,000. 84.76% of the stock is currently owned by institutional investors.
Insider Activity at L3Harris Technologies
In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares of the company's stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 4,901 shares of company stock valued at $1,059,757. Insiders own 0.82% of the company's stock.
Analyst Ratings Changes
LHX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a research note on Thursday, January 2nd. Barclays dropped their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, January 6th. UBS Group upped their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $261.47.
Get Our Latest Analysis on L3Harris Technologies
L3Harris Technologies Stock Up 0.7 %
NYSE LHX traded up $1.33 during trading hours on Friday, hitting $206.23. 1,245,205 shares of the company traded hands, compared to its average volume of 1,351,318. The business's 50-day moving average is $209.05 and its 200-day moving average is $228.21. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month 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. The stock has a market capitalization of $38.84 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 2.42 and a beta of 0.76.
L3Harris Technologies (NYSE:LHX - Get Free Report) last issued 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 return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.
L3Harris Technologies Company Profile
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Free Report)
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.
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