Allen Mooney & Barnes Investment Advisors LLC Sells 141 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Allen Mooney & Barnes Investment Advisors LLC trimmed its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 0.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 45,480 shares of the company’s stock after selling 141 shares during the quarter. L3Harris Technologies comprises approximately 1.6% of Allen Mooney & Barnes Investment Advisors LLC’s portfolio, making the stock its 27th biggest position. Allen Mooney & Barnes Investment Advisors LLC’s holdings in L3Harris Technologies were worth $9,564,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Archer Investment Corp grew its stake in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Kennebec Savings Bank purchased a new stake in L3Harris Technologies in the third quarter worth approximately $36,000. Ashton Thomas Securities LLC bought a new stake in L3Harris Technologies in the 3rd quarter worth approximately $64,000. Quest Partners LLC raised its stake in L3Harris Technologies by 36,000.0% during the 3rd quarter. Quest Partners LLC now owns 361 shares of the company’s stock valued at $86,000 after buying an additional 360 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of L3Harris Technologies by 133.7% during the 4th quarter. Versant Capital Management Inc now owns 472 shares of the company’s stock valued at $99,000 after buying an additional 270 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on LHX. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Truist Financial reduced their target price on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Citigroup lifted their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $265.25.

L3Harris Technologies Stock Performance

LHX opened at $214.65 on Wednesday. The stock has a market capitalization of $40.71 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 1.86 and a beta of 0.75. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company has a fifty day moving average of $229.70 and a 200 day moving average of $233.23.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 earnings per share. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

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.