New World Advisors LLC Sells 150 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

New World Advisors LLC lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 9.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,520 shares of the company’s stock after selling 150 shares during the period. New World Advisors LLC’s holdings in L3Harris Technologies were worth $320,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LHX. Blue Trust Inc. boosted its stake in L3Harris Technologies by 96.7% during the 3rd quarter. Blue Trust Inc. now owns 653 shares of the company’s stock valued at $147,000 after purchasing an additional 321 shares during the last quarter. International Assets Investment Management LLC boosted its stake in L3Harris Technologies by 23,627.0% during the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after purchasing an additional 169,878 shares during the last quarter. Ballentine Partners LLC boosted its stake in L3Harris Technologies by 3.4% during the 3rd quarter. Ballentine Partners LLC now owns 3,341 shares of the company’s stock valued at $795,000 after purchasing an additional 111 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in L3Harris Technologies by 38.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,622 shares of the company’s stock valued at $2,966,000 after purchasing an additional 3,521 shares during the last quarter. Finally, Modera Wealth Management LLC boosted its stake in L3Harris Technologies by 2.9% during the 3rd quarter. Modera Wealth Management LLC now owns 6,666 shares of the company’s stock valued at $1,586,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 4,901 shares of company stock valued at $1,059,757. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LHX shares. Citigroup cut 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. JPMorgan Chase & Co. cut their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Truist Financial cut their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Finally, Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $262.67.

L3Harris Technologies Trading Up 1.0 %

Shares of LHX stock opened at $199.13 on Monday. The company’s fifty day simple moving average is $210.26 and its two-hundred day simple moving average is $229.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year 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.

L3Harris Technologies (NYSE:LHX) last issued 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%. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

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.