Bailard Inc. Lowers Position in L3Harris Technologies, Inc. (NYSE:LHX)

Bailard Inc. reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,167 shares of the company’s stock after selling 4,392 shares during the period. Bailard Inc.’s holdings in L3Harris Technologies were worth $4,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. KCM Investment Advisors LLC increased its position in shares of L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after acquiring an additional 5,868 shares during the last quarter. Fortem Financial Group LLC purchased a new stake in L3Harris Technologies in the third quarter valued at approximately $841,000. Czech National Bank raised its position in L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after purchasing an additional 2,480 shares during the period. JPMorgan Chase & Co. lifted its stake in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after buying an additional 4,321 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. The trade was a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 4,901 shares of company stock valued at $1,059,757. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Up 0.7 %

LHX stock opened at $206.23 on Monday. The company’s 50 day moving average is $209.05 and its two-hundred day moving average is $228.22. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a market cap of $38.84 billion, a P/E ratio of 26.20, a PEG ratio of 2.42 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LHX. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their target price on shares of 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, Bank of America decreased their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $261.47.

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.