Newman Dignan & Sheerar Inc. Cuts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Newman Dignan & Sheerar Inc. reduced its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,775 shares of the company’s stock after selling 139 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in L3Harris Technologies were worth $1,845,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LHX. Roxbury Financial LLC purchased a new position in L3Harris Technologies during the fourth quarter worth $30,000. Archer Investment Corp increased its position in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in L3Harris Technologies during the fourth quarter worth $33,000. Kennebec Savings Bank purchased a new position in L3Harris Technologies during the third quarter worth $36,000. Finally, New Millennium Group LLC increased its position 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 buying an additional 163 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 1.0 %

Shares of LHX opened at $198.02 on Friday. The stock’s 50-day moving average is $214.03 and its two-hundred day moving average is $230.33. The stock has a market cap of $37.56 billion, a PE ratio of 25.16, a P/E/G ratio of 1.75 and a beta of 0.76. L3Harris Technologies, Inc. has a 12 month low of $196.67 and a 12 month high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last announced 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%. Equities analysts forecast that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Bank of America decreased their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, November 26th. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Finally, UBS Group raised their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $262.67.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 over the last three months. 0.82% of the stock is owned by insiders.

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.