MeadowBrook Investment Advisors LLC Sells 100 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

MeadowBrook Investment Advisors LLC cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,406 shares of the company’s stock after selling 100 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in L3Harris Technologies were worth $716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its position in L3Harris Technologies by 4.7% in the 3rd quarter. CWM LLC now owns 5,954 shares of the company’s stock valued at $1,416,000 after acquiring an additional 265 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in L3Harris Technologies by 231.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,100 shares of the company’s stock worth $262,000 after acquiring an additional 768 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of L3Harris Technologies by 6,787.5% during the third quarter. Exchange Traded Concepts LLC now owns 3,857 shares of the company’s stock worth $917,000 after acquiring an additional 3,801 shares during the period. Koshinski Asset Management Inc. boosted its holdings in shares of L3Harris Technologies by 2.7% in the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after purchasing an additional 42 shares during the period. Finally, Paladin Wealth LLC bought a new position in L3Harris Technologies in the third quarter worth approximately $151,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Bank of America cut their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Citigroup lowered their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $262.67.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the sale, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This represents a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 over the last three months. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Stock Down 0.9 %

NYSE:LHX opened at $206.52 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a market cap of $39.17 billion, a PE ratio of 26.24, a P/E/G ratio of 1.75 and a beta of 0.76. The company’s 50 day moving average is $216.27 and its two-hundred day moving average is $230.92.

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

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.