Harbor Investment Advisory LLC Sells 67 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Harbor Investment Advisory LLC lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 18.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 298 shares of the company’s stock after selling 67 shares during the period. Harbor Investment Advisory LLC’s holdings in L3Harris Technologies were worth $63,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Archer Investment Corp boosted its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. Kennebec Savings Bank bought a new position in L3Harris Technologies during the third quarter worth about $36,000. Trust Co. of Vermont boosted its holdings in L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after buying an additional 86 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at about $64,000. Finally, Armstrong Advisory Group Inc. lifted its holdings in shares of L3Harris Technologies by 1,660.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company’s stock valued at $74,000 after purchasing an additional 332 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.3 %

LHX opened at $220.02 on Thursday. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74. The stock’s fifty day simple moving average is $225.58 and its 200 day simple moving average is $233.04. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The stock has a market cap of $41.73 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 1.74 and a beta of 0.75.

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

Analyst Upgrades and Downgrades

LHX has been the topic of several recent analyst reports. Citigroup lifted their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Truist Financial cut their price objective on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction 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 owns 8,576 shares in the company, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 7,889 shares of company stock worth $1,800,572. Company insiders own 0.87% of the company’s stock.

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.