L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 13.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,605 shares of the company’s stock after selling 1,643 shares during the quarter. Private Advisor Group LLC’s holdings in L3Harris Technologies were worth $2,230,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of L3Harris Technologies by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,622 shares of the company’s stock valued at $2,966,000 after purchasing an additional 3,521 shares during the period. State of Alaska Department of Revenue boosted its position in L3Harris Technologies by 6.9% in the third quarter. State of Alaska Department of Revenue now owns 22,038 shares of the company’s stock valued at $5,242,000 after buying an additional 1,415 shares during the last quarter. Welch Group LLC acquired a new position in L3Harris Technologies in the 3rd quarter worth approximately $214,000. Pallas Capital Advisors LLC raised its position in L3Harris Technologies by 8.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 1,043 shares of the company’s stock worth $255,000 after buying an additional 78 shares during the last quarter. Finally, SFE Investment Counsel lifted its stake in L3Harris Technologies by 0.9% during the 3rd quarter. SFE Investment Counsel now owns 22,779 shares of the company’s stock valued at $5,418,000 after acquiring an additional 192 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the sale, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 over the last quarter. 0.87% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $204.19 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a market capitalization of $38.45 billion, a PE ratio of 25.94, a P/E/G ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a fifty day moving average of $209.53 and a two-hundred day moving average of $228.71.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate 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, research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LHX shares. UBS Group increased their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Truist Financial reduced their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Bank of America dropped their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Morgan Stanley decreased their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.