L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,261 shares of the company’s stock after selling 80 shares during the period. Ballentine Partners LLC’s holdings in L3Harris Technologies were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. KCM Investment Advisors LLC boosted its stake in L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares during the last quarter. Fortem Financial Group LLC purchased a new position in L3Harris Technologies in the 3rd quarter worth approximately $841,000. Czech National Bank grew its position in shares of L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after purchasing an additional 2,480 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after purchasing an additional 4,321 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $7,602,000 after buying an additional 3,740 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 7,889 shares of company stock worth $1,800,572 over the last 90 days. 0.87% of the stock is owned by insiders.

L3Harris Technologies Price Performance

Shares of LHX opened at $220.02 on Thursday. The firm has a market capitalization of $41.73 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 1.74 and a beta of 0.75. The firm’s fifty day simple moving average is $225.58 and its 200-day simple moving average is $233.04. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the firm earned $3.19 earnings per share. L3Harris Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on LHX. Citigroup lifted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. decreased their target price 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. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Susquehanna lowered their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $266.19.

L3Harris Technologies Company 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.