Pallas Capital Advisors LLC Decreases Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Pallas Capital Advisors LLC cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 989 shares of the company’s stock after selling 54 shares during the period. Pallas Capital Advisors LLC’s holdings in L3Harris Technologies were worth $208,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LHX. Bar Harbor Wealth Management boosted its holdings in L3Harris Technologies by 2.1% in the fourth quarter. Bar Harbor Wealth Management now owns 18,768 shares of the company’s stock worth $3,947,000 after acquiring an additional 379 shares in the last quarter. Claro Advisors LLC acquired a new position in L3Harris Technologies during the 4th quarter valued at approximately $241,000. Capital Investment Advisors LLC raised its holdings in shares of L3Harris Technologies by 13.1% in the fourth quarter. Capital Investment Advisors LLC now owns 6,211 shares of the company’s stock worth $1,306,000 after buying an additional 718 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of L3Harris Technologies by 11.3% during the fourth quarter. Brookstone Capital Management now owns 3,620 shares of the company’s stock worth $761,000 after buying an additional 368 shares during the period. Finally, Fiduciary Alliance LLC grew its holdings in shares of L3Harris Technologies by 23.8% during the fourth quarter. Fiduciary Alliance LLC now owns 2,458 shares of the company’s stock valued at $517,000 after buying an additional 473 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 7,889 shares of company stock valued at $1,800,572 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Down 0.4 %

LHX stock opened at $214.03 on Thursday. The stock has a market capitalization of $40.59 billion, a P/E ratio of 33.81, a P/E/G ratio of 1.86 and a beta of 0.75. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The firm has a 50-day simple moving average of $229.70 and a 200-day simple moving average of $233.23. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the business posted $3.19 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LHX. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Susquehanna decreased their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company decreased their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $265.25.

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.