Leeward Investments LLC MA Decreases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Leeward Investments LLC MA cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,009 shares of the company’s stock after selling 1,141 shares during the period. Leeward Investments LLC MA’s holdings in L3Harris Technologies were worth $6,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Olympiad Research LP acquired a new position in shares of L3Harris Technologies during the fourth quarter worth $237,000. Pinnacle Financial Partners Inc boosted its position in shares of L3Harris Technologies by 1.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 36,072 shares of the company’s stock worth $7,585,000 after acquiring an additional 349 shares in the last quarter. Sigma Planning Corp increased its holdings in shares of L3Harris Technologies by 2.2% in the 4th quarter. Sigma Planning Corp now owns 2,671 shares of the company’s stock valued at $562,000 after acquiring an additional 58 shares during the last quarter. Ipswich Investment Management Co. Inc. raised its position in shares of L3Harris Technologies by 2.9% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 9,145 shares of the company’s stock worth $1,923,000 after acquiring an additional 255 shares in the last quarter. Finally, Cordatus Wealth Management LLC lifted its stake in L3Harris Technologies by 1.0% during the fourth quarter. Cordatus Wealth Management LLC now owns 7,321 shares of the company’s stock worth $1,539,000 after purchasing an additional 69 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 1.0 %

L3Harris Technologies stock opened at $199.13 on Monday. The stock has a 50 day moving average of $210.26 and a two-hundred day moving average of $229.10. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The stock has a market capitalization of $37.50 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 2.42 and a beta of 0.76. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate 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 expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on LHX shares. Susquehanna dropped their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Citigroup decreased their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $262.67.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were 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 $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

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.