Stephens Inc. AR Has $1.18 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Stephens Inc. AR trimmed its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 8.4% during the fourth quarter, HoldingsChannel reports. The fund owned 5,606 shares of the company’s stock after selling 513 shares during the period. Stephens Inc. AR’s holdings in L3Harris Technologies were worth $1,179,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in L3Harris Technologies by 24.3% during the fourth quarter. Empowered Funds LLC now owns 19,735 shares of the company’s stock worth $4,150,000 after buying an additional 3,852 shares during the last quarter. Moloney Securities Asset Management LLC increased its stake in shares of L3Harris Technologies by 3.3% during the 4th quarter. Moloney Securities Asset Management LLC now owns 3,105 shares of the company’s stock worth $653,000 after purchasing an additional 100 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in shares of L3Harris Technologies by 10.1% in the 4th quarter. Apollon Wealth Management LLC now owns 18,528 shares of the company’s stock valued at $3,896,000 after purchasing an additional 1,696 shares during the period. Golden State Wealth Management LLC acquired a new stake in L3Harris Technologies in the 4th quarter valued at about $42,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in 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 purchasing an additional 2,545 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Down 3.0 %

LHX opened at $200.48 on Thursday. L3Harris Technologies, Inc. has a twelve month low of $199.56 and a twelve month high of $265.74. 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 company’s 50-day moving average price is $215.60 and its two-hundred day moving average price is $230.76. The stock has a market cap of $38.03 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping 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%. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 4,901 shares of company stock valued at $1,059,757. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of a number of recent analyst reports. Barclays cut their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Morgan Stanley reduced their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Truist Financial decreased their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. cut their target price 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. Finally, StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $262.67.

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.