L3Harris Technologies, Inc. (NYSE:LHX) Position Cut by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,127 shares of the company’s stock after selling 721 shares during the period. Stock Yards Bank & Trust Co.’s holdings in L3Harris Technologies were worth $2,130,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Archer Investment Corp lifted its holdings in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Kennebec Savings Bank acquired a new position in L3Harris Technologies during the third quarter valued at $36,000. Union Bancaire Privee UBP SA purchased a new position in L3Harris Technologies during the fourth quarter valued at approximately $33,000. New Millennium Group LLC boosted its position in L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after acquiring an additional 86 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LHX. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Truist Financial lowered their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday. UBS Group raised their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Finally, Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $265.87.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $213.07 on Tuesday. The firm has a market cap of $40.41 billion, a P/E ratio of 27.07, a P/E/G ratio of 1.74 and a beta of 0.75. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. 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 firm has a 50 day simple moving average of $220.51 and a 200 day simple moving average of $232.17.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Sell-side analysts predict that L3Harris Technologies, Inc. will post 13.8 earnings per share for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 4,901 shares of company stock worth $1,059,757. Insiders own 0.82% of the company’s stock.

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.