L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Decreased by Empirical Finance LLC

Empirical Finance LLC cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,588 shares of the company’s stock after selling 85 shares during the period. Empirical Finance LLC’s holdings in L3Harris Technologies were worth $1,385,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. KCM Investment Advisors LLC grew its position in L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares in the last quarter. Fortem Financial Group LLC purchased a new position in shares of L3Harris Technologies during the third quarter valued at $841,000. Czech National Bank raised its position in L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after buying an additional 2,480 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 in the last ninety days. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Trading Down 0.3 %

L3Harris Technologies stock opened at $206.05 on Monday. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a market capitalization of $39.08 billion, a PE ratio of 26.18, a PEG ratio of 1.75 and a beta of 0.76. The business’s 50-day simple moving average is $216.96 and its 200-day simple moving average is $231.21.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities research analysts forecast that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LHX shares. Morgan Stanley cut their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Finally, Barclays dropped their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $263.07.

About L3Harris Technologies

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.