Principal Financial Group Inc. Has $45.55 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Principal Financial Group Inc. decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 216,604 shares of the company’s stock after selling 3,665 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of L3Harris Technologies worth $45,547,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth $30,000. Archer Investment Corp grew 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 last quarter. Union Bancaire Privee UBP SA acquired a new position in L3Harris Technologies in the 4th quarter valued at $33,000. Kennebec Savings Bank acquired a new position in L3Harris Technologies in the 3rd quarter valued at $36,000. Finally, New Millennium Group LLC grew 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 last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 4,901 shares of company stock valued at $1,059,757 in the last ninety days. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on LHX shares. UBS Group raised their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Barclays lowered their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Morgan Stanley lowered their target price 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. Susquehanna lowered their target price 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. Finally, Truist Financial reduced their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Price Performance

NYSE:LHX opened at $197.19 on Friday. The company has a 50-day moving average of $210.74 and a 200-day moving average of $229.26. The company has a market capitalization of $37.13 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 2.40 and a beta of 0.76. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

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

About L3Harris Technologies

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.