Portfolio Design Labs LLC Reduces Position in L3Harris Technologies, Inc. (NYSE:LHX)

Portfolio Design Labs LLC trimmed its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 46.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,152 shares of the company’s stock after selling 2,710 shares during the quarter. Portfolio Design Labs LLC’s holdings in L3Harris Technologies were worth $663,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Archer Investment Corp increased its stake in 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 purchasing an additional 43 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies in the fourth quarter worth about $33,000. Kennebec Savings Bank purchased a new position in L3Harris Technologies in the 3rd quarter worth about $36,000. New Millennium Group LLC increased 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 worth $39,000 after buying an additional 163 shares during the period. Finally, Trust Co. of Vermont lifted its holdings 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 buying an additional 86 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research analyst reports. Morgan Stanley dropped 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. Bank of America dropped their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. UBS Group lifted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Finally, Susquehanna cut their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $262.67.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 in the last ninety days. 0.82% of the stock is owned by insiders.

L3Harris Technologies Stock Down 0.9 %

Shares of L3Harris Technologies stock opened at $206.52 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market cap of $39.17 billion, a P/E ratio of 26.24, a PEG ratio of 1.75 and a beta of 0.76. The firm’s 50 day moving average price is $216.27 and its 200-day moving average price is $230.92. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its 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%. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.19 EPS 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.