Truist Financial Corp Sells 133 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Truist Financial Corp trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 130,407 shares of the company’s stock after selling 133 shares during the period. Truist Financial Corp owned 0.07% of L3Harris Technologies worth $27,422,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Archer Investment Corp raised its stake 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. Roxbury Financial LLC bought a new position in L3Harris Technologies in the 4th quarter worth approximately $30,000. Kennebec Savings Bank bought a new position in L3Harris Technologies in the 3rd quarter worth approximately $36,000. Union Bancaire Privee UBP SA bought a new position in L3Harris Technologies in the 4th quarter worth approximately $33,000. Finally, New Millennium Group LLC increased its position in L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after buying an additional 163 shares during the period. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Tuesday, November 26th. Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Truist Financial lowered their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. lowered their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $262.67.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the business’s 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 owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 over the last 90 days. 0.82% of the stock is owned by insiders.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $195.55 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a market cap of $37.09 billion, a P/E ratio of 24.85, a P/E/G ratio of 1.75 and a beta of 0.76. The business’s fifty day moving average is $212.67 and its two-hundred day moving average is $229.97. L3Harris Technologies, Inc. has a 52 week low of $194.77 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 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 forecast that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

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.