L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Brookmont Capital Management

Brookmont Capital Management trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,347 shares of the company’s stock after selling 369 shares during the quarter. L3Harris Technologies makes up approximately 2.2% of Brookmont Capital Management’s investment portfolio, making the stock its 12th largest position. Brookmont Capital Management’s holdings in L3Harris Technologies were worth $4,068,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Rezny Wealth Management Inc. raised its stake in shares of L3Harris Technologies by 2.4% during the 4th quarter. Rezny Wealth Management Inc. now owns 6,931 shares of the company’s stock worth $1,457,000 after buying an additional 164 shares during the period. Atwood & Palmer Inc. increased its position in shares of L3Harris Technologies by 1.7% during the fourth quarter. Atwood & Palmer Inc. now owns 61,637 shares of the company’s stock worth $12,961,000 after purchasing an additional 1,021 shares in the last quarter. Pure Financial Advisors LLC increased its position in shares of L3Harris Technologies by 5.4% during the fourth quarter. Pure Financial Advisors LLC now owns 1,483 shares of the company’s stock worth $312,000 after purchasing an additional 76 shares in the last quarter. Sky Investment Group LLC increased its position in shares of L3Harris Technologies by 5.4% during the fourth quarter. Sky Investment Group LLC now owns 1,584 shares of the company’s stock worth $333,000 after purchasing an additional 81 shares in the last quarter. Finally, Gemmer Asset Management LLC increased its position in shares of L3Harris Technologies by 1.0% during the fourth quarter. Gemmer Asset Management LLC now owns 7,718 shares of the company’s stock worth $1,623,000 after purchasing an additional 75 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 7,889 shares of company stock valued at $1,800,572 in the last quarter. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on LHX shares. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Tuesday, November 26th. Royal Bank of Canada boosted their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. dropped their price target on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Barclays dropped their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Susquehanna dropped their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $266.19.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $218.22 on Tuesday. The business’s fifty day simple moving average is $227.28 and its 200-day simple moving average is $233.09. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. 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 firm has a market cap of $41.39 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 1.74 and a beta of 0.75.

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