L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Lowered by WealthShield Partners LLC

WealthShield Partners LLC lessened its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,866 shares of the company’s stock after selling 426 shares during the quarter. WealthShield Partners LLC’s holdings in L3Harris Technologies were worth $3,967,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Roxbury Financial LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at approximately $30,000. Archer Investment Corp increased 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 during the period. Union Bancaire Privee UBP SA acquired a new position in L3Harris Technologies in the 4th quarter valued at approximately $33,000. Kennebec Savings Bank acquired a new position in L3Harris Technologies in the 3rd quarter valued at approximately $36,000. Finally, New Millennium Group LLC increased its stake in L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of several research reports. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Truist Financial dropped their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Morgan Stanley dropped their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, Susquehanna dropped their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $262.67.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $199.13 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm has a fifty day moving average price of $210.26 and a two-hundred day moving average price of $229.10. The company has a market cap of $37.50 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued 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 net margin of 7.04% and a return on equity of 13.11%. Analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 4,901 shares of company stock valued at $1,059,757. Company insiders own 0.82% of the company’s stock.

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.