Stonegate Investment Group LLC Sells 424 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Stonegate Investment Group LLC cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,337 shares of the company’s stock after selling 424 shares during the period. Stonegate Investment Group LLC’s holdings in L3Harris Technologies were worth $702,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Archer Investment Corp boosted its position 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 last quarter. Union Bancaire Privee UBP SA bought a new position in L3Harris Technologies in the fourth quarter valued at about $33,000. Kennebec Savings Bank acquired a new stake in L3Harris Technologies in the third quarter worth about $36,000. Trust Co. of Vermont raised its holdings in L3Harris Technologies by 78.9% during the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after purchasing an additional 86 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in L3Harris Technologies by 84.0% during the 4th quarter. MCF Advisors LLC now owns 241 shares of the company’s stock valued at $51,000 after purchasing an additional 110 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LHX shares. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Royal Bank of Canada upped their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Citigroup raised their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on shares of L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $266.19.

L3Harris Technologies Stock Down 4.0 %

LHX stock opened at $213.36 on Wednesday. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a market cap of $40.47 billion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 1.75 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $223.18 and a two-hundred day moving average price of $232.84.

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.