L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by ING Groep NV

ING Groep NV lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 4.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 24,225 shares of the company’s stock after selling 1,146 shares during the quarter. ING Groep NV’s holdings in L3Harris Technologies were worth $5,094,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Roxbury Financial LLC acquired a new stake in L3Harris Technologies in the 4th quarter valued at $30,000. Archer Investment Corp grew its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the 4th quarter worth $33,000. Kennebec Savings Bank acquired a new stake in L3Harris Technologies during the 3rd quarter worth $36,000. Finally, New Millennium Group LLC boosted its stake in L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 1.0 %

Shares of LHX opened at $199.13 on Friday. The firm has a market cap of $37.50 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 2.39 and a beta of 0.76. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company’s 50-day moving average price is $210.26 and its 200 day moving average price is $229.06. 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 data on Thursday, January 30th. The company reported $3.47 earnings per share (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%. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

Wall Street Analyst Weigh In

LHX has been the topic of several recent research reports. Bank of America lowered their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. UBS Group boosted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Barclays lowered their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $262.67.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have 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.