Mattern Wealth Management LLC Sells 825 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Mattern Wealth Management LLC lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,087 shares of the company’s stock after selling 825 shares during the quarter. Mattern Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,280,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. KCM Investment Advisors LLC grew its holdings in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after purchasing an additional 5,868 shares during the last quarter. Fortem Financial Group LLC bought a new position in shares of L3Harris Technologies during the third quarter valued at approximately $841,000. Czech National Bank raised its position in shares of L3Harris Technologies by 6.4% in the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after purchasing an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after acquiring an additional 4,321 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $222.31 on Tuesday. The company’s 50 day simple moving average is $223.62 and its 200 day simple moving average is $232.90. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74. The firm has a market capitalization of $42.16 billion, a PE ratio of 35.12, a P/E/G ratio of 1.75 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,889 shares of company stock worth $1,800,572 in the last quarter. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Susquehanna lowered their target price on 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 reduced their price objective on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company decreased their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Five investment 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 currently has a consensus rating of “Moderate Buy” and an average target price of $266.19.

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.