Chesapeake Wealth Management Sells 138 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Chesapeake Wealth Management trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,887 shares of the company’s stock after selling 138 shares during the period. Chesapeake Wealth Management’s holdings in L3Harris Technologies were worth $1,028,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LHX. Archer Investment Corp raised its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the period. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies during the third quarter worth about $36,000. Trust Co. of Vermont raised its stake in L3Harris Technologies by 78.9% during the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after purchasing an additional 86 shares during the period. Ashton Thomas Securities LLC purchased a new position in L3Harris Technologies in the 3rd quarter worth approximately $64,000. Finally, Armstrong Advisory Group Inc. boosted its stake in L3Harris Technologies by 1,660.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company’s stock worth $74,000 after purchasing an additional 332 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. 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 report on Monday, January 6th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Royal Bank of Canada lifted their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $266.19.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $218.22 on Tuesday. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The company has a market capitalization 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. The stock’s fifty day moving average is $227.28 and its two-hundred day moving average is $233.09. The company has a quick ratio of 0.87, a current ratio of 1.04 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 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.19 EPS. As a group, analysts expect that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 8,576 shares in the company, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 7,889 shares of company stock valued at $1,800,572. Corporate insiders own 0.87% of the company’s stock.

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.