Bridges Investment Management Inc. Lowers Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Bridges Investment Management Inc. cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,631 shares of the company’s stock after selling 279 shares during the period. Bridges Investment Management Inc.’s holdings in L3Harris Technologies were worth $1,815,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LHX. OneDigital Investment Advisors LLC boosted its position in L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after acquiring an additional 40 shares in the last quarter. Archer Investment Corp boosted its position in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. HMS Capital Management LLC grew its stake in L3Harris Technologies by 1.0% in the third quarter. HMS Capital Management LLC now owns 4,850 shares of the company’s stock valued at $1,154,000 after purchasing an additional 47 shares during the last quarter. Sigma Planning Corp grew its stake in L3Harris Technologies by 1.9% in the third quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock valued at $622,000 after purchasing an additional 49 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC raised its holdings in L3Harris Technologies by 5.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock worth $200,000 after purchasing an additional 50 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.7 %

L3Harris Technologies stock opened at $206.23 on Monday. The stock has a 50-day moving average price of $209.05 and a 200 day moving average price of $228.22. The company has a market capitalization of $38.84 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating 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%. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LHX shares. Citigroup lowered their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Truist Financial dropped 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. 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 has an average rating of “Moderate Buy” and an average target price of $261.47.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 4,901 shares of company stock worth $1,059,757 over the last three months. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies 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.