Wedge Capital Management L L P NC Has $4.69 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Wedge Capital Management L L P NC reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,312 shares of the company’s stock after selling 320 shares during the period. Wedge Capital Management L L P NC’s holdings in L3Harris Technologies were worth $4,692,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LHX. JPMorgan Chase & Co. lifted its stake in L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of L3Harris Technologies by 65.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after purchasing an additional 171,420 shares during the period. International Assets Investment Management LLC lifted its stake in L3Harris Technologies by 23,627.0% in the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after acquiring an additional 169,878 shares in the last quarter. Mizuho Markets Americas LLC boosted its position in L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after acquiring an additional 166,262 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $35,904,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on LHX shares. Truist Financial reduced their target price on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Citigroup upped their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. 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 note on Wednesday, January 8th. Finally, Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $266.19.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 7,889 shares of company stock worth $1,800,572. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Down 0.1 %

Shares of NYSE LHX opened at $218.22 on Monday. The stock’s fifty day moving average is $227.28 and its 200 day moving average is $233.03. The stock has a market capitalization of $41.39 billion, a P/E ratio of 34.47, a PEG ratio of 1.68 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 EPS. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.07 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.