Stonegate Investment Group LLC Sells 424 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Stonegate Investment Group LLC decreased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 11.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,337 shares of the company’s stock after selling 424 shares during the period. Stonegate Investment Group LLC’s holdings in L3Harris Technologies were worth $702,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. OneDigital Investment Advisors LLC raised its stake in L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after buying an additional 40 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after buying an additional 42 shares in the last quarter. Blossom Wealth Management raised its holdings in shares of L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after purchasing an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. lifted its position in shares of L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after buying an additional 43 shares in the last quarter. Finally, Archer Investment Corp lifted 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 acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LHX shares. JPMorgan Chase & Co. decreased their target price on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada upped their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Truist Financial dropped their price objective on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Finally, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 16th. The stock was 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $213.36 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The firm’s 50 day simple moving average is $223.18 and its 200-day simple moving average is $232.84. The firm has a market cap of $40.47 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75.

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.