Mattern Capital Management LLC Sells 1,005 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Mattern Capital Management LLC trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,059 shares of the company’s stock after selling 1,005 shares during the period. Mattern Capital Management LLC’s holdings in L3Harris Technologies were worth $8,003,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LHX. Citizens National Bank Trust Department increased its position in shares of L3Harris Technologies by 1.3% during the fourth quarter. Citizens National Bank Trust Department now owns 5,758 shares of the company’s stock worth $1,211,000 after acquiring an additional 75 shares in the last quarter. Zullo Investment Group Inc. increased its position in shares of L3Harris Technologies by 3.2% during the fourth quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock worth $361,000 after acquiring an additional 54 shares in the last quarter. Boston Financial Mangement LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $201,000. Concurrent Investment Advisors LLC boosted its holdings in L3Harris Technologies by 6.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 19,393 shares of the company’s stock worth $4,078,000 after purchasing an additional 1,140 shares during the last quarter. Finally, Elk River Wealth Management LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $934,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the company’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 of the company’s stock, valued at $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have 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.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Bank of America reduced their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Citigroup cut their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Price Performance

LHX opened at $197.19 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market capitalization of $37.13 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 2.40 and a beta of 0.76. The firm’s fifty day moving average price is $210.74 and its two-hundred day moving average price is $229.26. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping 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 fiscal year.

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.