Cornell Pochily Investment Advisors Inc. Sells 160 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Cornell Pochily Investment Advisors Inc. trimmed its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,910 shares of the company’s stock after selling 160 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in L3Harris Technologies were worth $402,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LHX. Geode Capital Management LLC grew its holdings in L3Harris Technologies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after buying an additional 59,008 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in 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 acquiring an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after acquiring an additional 85,882 shares during the period. Raymond James & Associates lifted its stake in L3Harris Technologies by 3.0% in 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 boosted its holdings in L3Harris Technologies by 25.3% in 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 period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.5 %

LHX opened at $218.64 on Monday. The company has a market cap of $41.47 billion, a P/E ratio of 34.54, a P/E/G ratio of 1.75 and a beta of 0.75. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74. The business’s 50-day moving average price is $223.62 and its 200-day moving average price is $232.90. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LHX. Truist Financial decreased their price target on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Citigroup boosted their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays lowered their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $266.19.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now owns 8,576 shares of the company’s stock, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 7,889 shares of company stock worth $1,800,572 in the last three months. 0.82% of the stock is owned by insiders.

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.