Savant Capital LLC Sells 347 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Savant Capital LLC cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,837 shares of the company’s stock after selling 347 shares during the period. Savant Capital LLC’s holdings in L3Harris Technologies were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Archer Investment Corp increased its position in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the period. Kennebec Savings Bank bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $36,000. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies in the fourth quarter valued at $33,000. New Millennium Group LLC raised its stake in L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after acquiring an additional 163 shares in the last quarter. Finally, Trust Co. of Vermont raised its stake in L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after acquiring an additional 86 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LHX. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Tuesday, November 26th. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Bank of America dropped their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Finally, Truist Financial decreased their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $199.79 on Friday. The business’s 50-day simple moving average is $214.80 and its 200 day simple moving average is $230.55. The stock has a market cap of $37.89 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 1.75 and a beta of 0.76. L3Harris Technologies, Inc. has a 12-month low of $198.43 and a 12-month high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (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%. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current year.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction dated 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 owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 4,901 shares of company stock worth $1,059,757. Insiders own 0.82% of the company’s stock.

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.