Louisiana State Employees Retirement System Sells 500 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Louisiana State Employees Retirement System trimmed its position in L3Harris Technologies, Inc. (NYSE:LHX) by 4.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,200 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in L3Harris Technologies were worth $2,145,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of LHX. Exchange Traded Concepts LLC lifted its stake in shares of L3Harris Technologies by 6,787.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,857 shares of the company’s stock valued at $917,000 after acquiring an additional 3,801 shares during the last quarter. Creative Planning lifted its stake in shares of L3Harris Technologies by 1.2% in the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after acquiring an additional 512 shares during the last quarter. Kowal Investment Group LLC bought a new position in shares of L3Harris Technologies in the 3rd quarter valued at $231,000. Good Life Advisors LLC increased its holdings in L3Harris Technologies by 2.9% in the third quarter. Good Life Advisors LLC now owns 8,489 shares of the company’s stock valued at $2,019,000 after purchasing an additional 240 shares during the period. Finally, Bleakley Financial Group LLC increased its holdings in L3Harris Technologies by 2.6% in the third quarter. Bleakley Financial Group LLC now owns 2,869 shares of the company’s stock valued at $682,000 after purchasing an additional 73 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $198.02 on Friday. L3Harris Technologies, Inc. has a fifty-two week low of $196.67 and a fifty-two week high of $265.74. The stock has a market cap of $37.56 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.75 and a beta of 0.76. 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 firm’s 50-day simple moving average is $214.03 and its 200 day simple moving average is $230.33.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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 anticipate that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LHX shares. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. UBS Group increased their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Susquehanna decreased their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Morgan Stanley decreased their price objective 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 equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $262.67.

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.