Y Intercept Hong Kong Ltd Purchases 25,604 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Y Intercept Hong Kong Ltd increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 232.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,616 shares of the company’s stock after buying an additional 25,604 shares during the period. L3Harris Technologies accounts for approximately 0.5% of Y Intercept Hong Kong Ltd’s holdings, making the stock its 14th biggest position. Y Intercept Hong Kong Ltd’s holdings in L3Harris Technologies were worth $7,700,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in L3Harris Technologies by 96.7% in the 3rd quarter. Blue Trust Inc. now owns 653 shares of the company’s stock valued at $147,000 after acquiring an additional 321 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after purchasing an additional 169,878 shares during the period. Ballentine Partners LLC raised its stake in shares of L3Harris Technologies by 3.4% in the third quarter. Ballentine Partners LLC now owns 3,341 shares of the company’s stock valued at $795,000 after purchasing an additional 111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in L3Harris Technologies by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,622 shares of the company’s stock worth $2,966,000 after purchasing an additional 3,521 shares during the period. Finally, Modera Wealth Management LLC boosted its stake in L3Harris Technologies by 2.9% during the third quarter. Modera Wealth Management LLC now owns 6,666 shares of the company’s stock worth $1,586,000 after buying an additional 190 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 Trading Up 1.0 %

LHX opened at $199.13 on Monday. The firm has a 50 day simple moving average of $210.26 and a 200 day simple moving average of $229.10. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a market cap of $37.50 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. 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 posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Morgan Stanley reduced their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company cut 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 note on Wednesday, December 11th. JPMorgan Chase & Co. decreased their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Susquehanna reduced their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

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.