Stanley Laman Group Ltd. Sells 969 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Stanley Laman Group Ltd. lowered its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,206 shares of the company’s stock after selling 969 shares during the period. Stanley Laman Group Ltd.’s holdings in L3Harris Technologies were worth $3,618,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’s 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 transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 insiders.

L3Harris Technologies Stock Down 3.0 %

NYSE:LHX opened at $200.48 on Thursday. The company’s 50-day simple moving average is $215.60 and its 200-day simple moving average is $230.76. The stock has a market capitalization of $38.03 billion, a P/E ratio of 25.47, 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 quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a fifty-two week low of $199.56 and a fifty-two week high of $265.74.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LHX. JPMorgan Chase & Co. dropped 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. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Argus raised 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. Morgan Stanley reduced their price target 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. Finally, Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price 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.