Chevy Chase Trust Holdings LLC Trims Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Chevy Chase Trust Holdings LLC cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,488 shares of the company’s stock after selling 2,184 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in L3Harris Technologies were worth $21,131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. Archer Investment Corp boosted its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Kennebec Savings Bank bought a new position in L3Harris Technologies in the 3rd quarter worth about $36,000. Union Bancaire Privee UBP SA bought a new position in L3Harris Technologies in the 4th quarter worth about $33,000. New Millennium Group LLC boosted 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 purchasing an additional 163 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after purchasing an additional 86 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $198.02 on Friday. The firm’s 50 day moving average price is $213.30 and its 200-day moving average price is $230.15. L3Harris Technologies, Inc. has a twelve month low of $196.67 and a twelve month high of $265.74. 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 stock has a market capitalization of $37.56 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.19 EPS for the current year.

Insider Buying and Selling

In other L3Harris Technologies 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 transaction of $288,412.38. Following the completion of the sale, 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 filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 4,901 shares of company stock valued at $1,059,757. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Tuesday, November 26th. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lowered their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $262.67.

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.