Kingsview Wealth Management LLC Has $876,000 Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Kingsview Wealth Management LLC cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,166 shares of the company’s stock after selling 126 shares during the quarter. Kingsview Wealth Management LLC’s holdings in L3Harris Technologies were worth $876,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Apollon Wealth Management LLC lifted its holdings in shares of L3Harris Technologies by 10.1% during the fourth quarter. Apollon Wealth Management LLC now owns 18,528 shares of the company’s stock worth $3,896,000 after buying an additional 1,696 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $42,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of L3Harris Technologies by 13.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,088 shares of the company’s stock worth $4,645,000 after buying an additional 2,545 shares during the last quarter. Spectrum Asset Management Inc. NB CA lifted its holdings in shares of L3Harris Technologies by 5.8% during the fourth quarter. Spectrum Asset Management Inc. NB CA now owns 15,867 shares of the company’s stock worth $3,337,000 after buying an additional 871 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $10,228,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 over the last three months. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LHX. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. UBS Group increased their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. decreased 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 equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $262.67.

L3Harris Technologies Stock Down 0.9 %

LHX stock opened at $206.52 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average price of $216.27 and a two-hundred day moving average price of $230.92. The company has a market cap of $39.17 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 1.75 and a beta of 0.76. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Analysts anticipate that L3Harris Technologies, Inc. will post 11.19 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.