City Holding Co. Has $1.60 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

City Holding Co. cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,606 shares of the company’s stock after selling 85 shares during the quarter. City Holding Co.’s holdings in L3Harris Technologies were worth $1,599,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LHX. Archer Investment Corp boosted its holdings in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies during the third quarter worth $36,000. Trust Co. of Vermont increased its position in shares of L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after buying an additional 86 shares during the period. Ashton Thomas Securities LLC acquired a new position in L3Harris Technologies in the third quarter valued at $64,000. Finally, Armstrong Advisory Group Inc. boosted its position in L3Harris Technologies by 1,660.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company’s stock valued at $74,000 after acquiring an additional 332 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday. Truist Financial reduced their price objective on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $218.22 on Monday. The stock has a 50 day moving average price of $227.28 and a 200-day moving average price of $233.03. The stock has a market cap of $41.39 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the firm posted $3.19 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. Equities analysts expect that L3Harris Technologies, Inc. will post 13.07 EPS for the current year.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 7,889 shares of company stock worth $1,800,572 in the last three months. 0.87% of the stock is owned by insiders.

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.