L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Stack Financial Management Inc

Stack Financial Management Inc lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 148,936 shares of the company’s stock after selling 1,464 shares during the period. L3Harris Technologies makes up about 2.9% of Stack Financial Management Inc’s holdings, making the stock its 7th biggest holding. Stack Financial Management Inc’s holdings in L3Harris Technologies were worth $31,318,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brown Financial Advisors raised its position in shares of L3Harris Technologies by 4.9% in the 4th quarter. Brown Financial Advisors now owns 1,962 shares of the company’s stock worth $413,000 after buying an additional 91 shares during the period. Trifecta Capital Advisors LLC grew its position in L3Harris Technologies by 8.2% during the fourth quarter. Trifecta Capital Advisors LLC now owns 14,769 shares of the company’s stock valued at $3,106,000 after acquiring an additional 1,115 shares during the period. BankPlus Trust Department acquired a new stake in L3Harris Technologies during the fourth quarter worth about $1,295,000. Crestwood Advisors Group LLC raised its holdings in shares of L3Harris Technologies by 12.1% in the 4th quarter. Crestwood Advisors Group LLC now owns 1,860 shares of the company’s stock worth $391,000 after purchasing an additional 201 shares during the period. Finally, IFP Advisors Inc lifted its stake in shares of L3Harris Technologies by 51.6% in the 4th quarter. IFP Advisors Inc now owns 3,128 shares of the company’s stock valued at $660,000 after purchasing an additional 1,065 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 4,901 shares of company stock valued at $1,059,757. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on LHX shares. Bank of America dropped their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Morgan Stanley dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Susquehanna reduced their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Sanford C. Bernstein raised 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 research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Price Performance

LHX stock opened at $199.89 on Tuesday. The stock’s 50 day moving average is $209.82 and its two-hundred day moving average is $228.88. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a market capitalization of $37.64 billion, a PE ratio of 25.40, 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.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results 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 net margin of 7.04% and a return on equity of 13.11%. Analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

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.