Wrapmanager Inc. Sells 599 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Wrapmanager Inc. reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,617 shares of the company’s stock after selling 599 shares during the quarter. Wrapmanager Inc.’s holdings in L3Harris Technologies were worth $761,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of L3Harris Technologies by 29.9% in the third 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 in the last quarter. International Assets Investment Management LLC boosted its position in L3Harris Technologies by 23,627.0% in the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after buying an additional 169,878 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in shares of L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after buying an additional 166,262 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of L3Harris Technologies during the third quarter worth $35,904,000. Finally, Rockefeller Capital Management L.P. increased its position in L3Harris Technologies by 156.2% in the third quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock worth $35,259,000 after purchasing an additional 90,370 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now owns 6,812 shares in the company, valued at $1,455,383.80. The trade was a 20.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 4,901 shares of company stock valued at $1,059,757 in the last three months. 0.87% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LHX. Bank of America reduced their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Susquehanna cut their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Finally, Citigroup lowered their price target on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Trading Up 0.4 %

LHX opened at $199.89 on Tuesday. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm 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 debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company’s 50-day moving average is $209.82 and its 200 day moving average is $228.88.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. As a group, research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Company 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.