L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,695 shares of the company’s stock after selling 258 shares during the period. Flputnam Investment Management Co.’s holdings in L3Harris Technologies were worth $6,455,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LHX. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $27,000. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $30,000. Archer Investment Corp lifted its position in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $33,000. Finally, Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies in the 3rd quarter valued at approximately $36,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of LHX opened at $206.23 on Friday. The company’s fifty day moving average is $209.05 and its 200-day moving average is $228.21. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The firm has a market cap of $38.84 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth 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 announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Insider Activity at L3Harris Technologies

In related 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 transaction, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders have sold 4,901 shares of company stock worth $1,059,757. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays reduced their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Susquehanna reduced their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Truist Financial dropped their price objective on shares of 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, Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $300.00 to $269.00 and set an “overweight” rating on the stock in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $261.47.

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.