Washington Capital Management Inc. Sells 2,625 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Washington Capital Management Inc. reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 54.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,205 shares of the company's stock after selling 2,625 shares during the period. Washington Capital Management Inc.'s holdings in L3Harris Technologies were worth $464,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock worth $184,245,000 after acquiring an additional 178,407 shares during the period. International Assets Investment Management LLC lifted its stake in L3Harris Technologies by 23,627.0% in the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company's stock worth $40,580,000 after purchasing an additional 169,878 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock valued at $195,704,000 after buying an additional 166,262 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in L3Harris Technologies during the third quarter worth about $35,904,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of L3Harris Technologies by 156.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company's stock valued at $35,259,000 after buying an additional 90,370 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 7,889 shares of company stock valued at $1,800,572. Company insiders own 0.82% of the company's stock.

L3Harris Technologies Price Performance

Shares of LHX stock traded down $1.84 during mid-day trading on Thursday, hitting $210.11. 864,358 shares of the stock traded hands, compared to its average volume of 1,181,872. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company's 50-day simple moving average is $221.93 and its 200-day simple moving average is $232.57. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The firm has a market cap of $39.85 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75.

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 5.71% and a return on equity of 13.11%. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

Wall Street Analyst Weigh In

LHX has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $270.00 to $265.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Susquehanna dropped their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Bank of America upgraded shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Barclays dropped their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Finally, Truist Financial reduced their price objective on shares of L3Harris Technologies from $300.00 to $283.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $271.07.

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.