Cutter & CO Brokerage Inc. Cuts Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Cutter & CO Brokerage Inc. lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,360 shares of the company’s stock after selling 213 shares during the quarter. L3Harris Technologies makes up about 0.9% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 27th largest position. Cutter & CO Brokerage Inc.’s holdings in L3Harris Technologies were worth $3,651,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at $27,000. Illinois Municipal Retirement Fund increased its holdings in L3Harris Technologies by 62.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 9,257 shares of the company’s stock valued at $1,947,000 after buying an additional 3,546 shares during the last quarter. Commonwealth Retirement Investments LLC increased its holdings in L3Harris Technologies by 2.1% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 7,277 shares of the company’s stock valued at $1,530,000 after buying an additional 152 shares during the last quarter. Brown Financial Advisors increased its holdings in L3Harris Technologies by 4.9% in the fourth quarter. Brown Financial Advisors now owns 1,962 shares of the company’s stock valued at $413,000 after buying an additional 91 shares during the last quarter. Finally, Trifecta Capital Advisors LLC increased its holdings in L3Harris Technologies by 8.2% in the fourth quarter. Trifecta Capital Advisors LLC now owns 14,769 shares of the company’s stock valued at $3,106,000 after buying an additional 1,115 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $204.19 on Wednesday. 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 market capitalization of $38.45 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The firm has a 50-day simple moving average of $209.53 and a 200-day simple moving average of $228.71. 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 announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating 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%. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. 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. Truist Financial decreased their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $262.67.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 over the last 90 days. Company insiders own 0.87% of the company’s stock.

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.