Asio Capital LLC Has $248,000 Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Asio Capital LLC lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 20.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,178 shares of the company’s stock after selling 300 shares during the quarter. Asio Capital LLC’s holdings in L3Harris Technologies were worth $248,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LHX. Public Sector Pension Investment Board increased its position in shares of L3Harris Technologies by 72.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 7,208 shares of the company’s stock worth $1,619,000 after purchasing an additional 3,032 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of L3Harris Technologies by 12.5% during the second quarter. Evergreen Capital Management LLC now owns 1,396 shares of the company’s stock worth $314,000 after buying an additional 155 shares in the last quarter. AXA S.A. bought a new position in shares of L3Harris Technologies in the second quarter valued at approximately $292,000. AQR Capital Management LLC boosted its holdings in shares of L3Harris Technologies by 41.0% in the 2nd quarter. AQR Capital Management LLC now owns 158,345 shares of the company’s stock worth $35,561,000 after acquiring an additional 46,027 shares in the last quarter. Finally, MBB Public Markets I LLC bought a new stake in L3Harris Technologies during the 2nd quarter worth approximately $3,051,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $218.64 on Friday. The stock has a market cap of $41.47 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. The stock has a 50-day moving average of $223.62 and a 200-day moving average of $232.81. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. 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 earnings results on Thursday, October 24th. The company reported $3.34 earnings per share 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 analyst estimates of $5.28 billion. During the same period last year, the business posted $3.19 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 7,889 shares of company stock worth $1,800,572 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent analyst reports. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Barclays decreased their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Citigroup increased their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Truist Financial dropped their price objective on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $266.19.

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.