Guyasuta Investment Advisors Inc. Lowers Position in L3Harris Technologies, Inc. (NYSE:LHX)

Guyasuta Investment Advisors Inc. cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,763 shares of the company’s stock after selling 2,135 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in L3Harris Technologies were worth $3,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Nations Financial Group Inc. IA ADV grew its holdings in shares of L3Harris Technologies by 5.4% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 10,423 shares of the company’s stock worth $2,192,000 after purchasing an additional 531 shares during the period. Adell Harriman & Carpenter Inc. boosted its holdings in L3Harris Technologies by 131.7% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 7,755 shares of the company’s stock valued at $1,631,000 after acquiring an additional 4,408 shares during the period. Blue Trust Inc. boosted its holdings in L3Harris Technologies by 557.6% during the 4th quarter. Blue Trust Inc. now owns 4,294 shares of the company’s stock valued at $903,000 after acquiring an additional 3,641 shares during the period. Campbell Wealth Management boosted its holdings in L3Harris Technologies by 21.6% during the 4th quarter. Campbell Wealth Management now owns 1,204 shares of the company’s stock valued at $253,000 after acquiring an additional 214 shares during the period. Finally, Asset Management One Co. Ltd. boosted its holdings in L3Harris Technologies by 2.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 71,910 shares of the company’s stock valued at $15,272,000 after acquiring an additional 1,772 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. UBS Group raised their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Susquehanna lowered their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. reduced their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $262.67.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 over the last three months. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $198.02 on Friday. The stock has a fifty day moving average price of $214.03 and a 200 day moving average price of $230.33. The stock has a market cap of $37.56 billion, a PE ratio of 25.16, a P/E/G ratio of 1.75 and a beta of 0.76. L3Harris Technologies, Inc. has a 1 year low of $196.67 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) 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%. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

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.