Empirical Finance LLC Has $1.39 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Empirical Finance LLC cut its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,588 shares of the company’s stock after selling 85 shares during the quarter. Empirical Finance LLC’s holdings in L3Harris Technologies were worth $1,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LHX. Geode Capital Management LLC grew its position in L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after acquiring an additional 59,008 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of L3Harris Technologies by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after purchasing an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after purchasing an additional 85,882 shares during the last quarter. Raymond James & Associates increased its position in shares of L3Harris Technologies by 3.0% during the 3rd quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock worth $234,275,000 after purchasing an additional 28,882 shares in the last quarter. Finally, Mizuho Markets Americas LLC lifted its holdings in L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after purchasing an additional 166,262 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.3 %

Shares of NYSE LHX opened at $206.05 on Monday. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The firm has a market capitalization of $39.08 billion, a P/E ratio of 26.18, a P/E/G ratio of 1.75 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company’s 50 day simple moving average is $216.96 and its 200 day simple moving average is $231.21.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results 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 return on equity of 13.11% and a net margin of 7.04%. On average, analysts predict that L3Harris Technologies, Inc. will post 11.19 EPS for the current year.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 4,901 shares of company stock worth $1,059,757. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LHX shares. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Morgan Stanley decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Barclays cut their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Five 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $263.07.

About L3Harris Technologies

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.