Rhumbline Advisers Sells 4,644 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Rhumbline Advisers cut its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 322,771 shares of the company’s stock after selling 4,644 shares during the period. Rhumbline Advisers owned approximately 0.17% of L3Harris Technologies worth $67,872,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after purchasing an additional 59,008 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of L3Harris Technologies by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after buying an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after buying an additional 85,882 shares in the last quarter. Raymond James & Associates raised its stake in shares of L3Harris Technologies by 3.0% in the 3rd quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock valued at $234,275,000 after buying an additional 28,882 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its stake in shares of L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after buying an additional 166,262 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LHX has been the subject of a number of recent research reports. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. dropped their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. 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 research report on Tuesday, November 26th. Susquehanna dropped 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. Finally, Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Five 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, the stock has an average rating of “Moderate Buy” and an average target price of $262.67.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the transaction, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,901 shares of company stock worth $1,059,757 over the last ninety days. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $198.02 on Monday. 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, Inc. has a twelve month low of $196.67 and a twelve month high of $265.74. The firm’s 50 day moving average price is $213.30 and its two-hundred day moving average price is $230.16. The firm has a market cap of $37.56 billion, a P/E ratio of 25.16, a PEG ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating 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%. On average, analysts forecast that L3Harris Technologies, Inc. will post 11.19 EPS 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.