D.A. Davidson & CO. Has $1.53 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

D.A. Davidson & CO. reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,283 shares of the company’s stock after selling 433 shares during the quarter. D.A. Davidson & CO.’s holdings in L3Harris Technologies were worth $1,532,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LHX. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth about $30,000. Archer Investment Corp lifted its holdings in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies during the 4th quarter valued at about $33,000. Kennebec Savings Bank bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at about $36,000. Finally, New Millennium Group LLC lifted its holdings in shares of L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 1.0 %

Shares of L3Harris Technologies stock opened at $199.13 on Friday. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The stock has a market cap of $37.50 billion, a P/E ratio of 25.30, a P/E/G ratio of 2.42 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $210.26 and its 200-day moving average is $229.08.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LHX. Bank of America cut their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Truist Financial cut their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Susquehanna cut their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $262.67.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 4,901 shares of company stock valued at $1,059,757. 0.82% of the stock is owned by insiders.

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.