Simmons Bank Lowers Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Simmons Bank cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 10.3% during the fourth quarter, Holdings Channel reports. The firm owned 2,307 shares of the company’s stock after selling 265 shares during the quarter. Simmons Bank’s holdings in L3Harris Technologies were worth $485,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LHX. National Pension Service boosted its stake in L3Harris Technologies by 42.1% during the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after buying an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. grew its stake 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 worth $184,245,000 after buying an additional 178,407 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings 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 worth $195,704,000 after buying an additional 166,262 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of L3Harris Technologies during the 3rd quarter valued at about $35,904,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of L3Harris Technologies by 156.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock valued at $35,259,000 after acquiring an additional 90,370 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Up 1.3 %

Shares of NYSE LHX opened at $204.97 on Friday. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The firm has a market cap of $38.60 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The business has a fifty day simple moving average of $209.20 and a two-hundred day simple moving average of $228.36. 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 quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LHX shares. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Barclays lowered their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Bank of America decreased their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $261.47.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 in the last 90 days. Insiders own 0.87% of the company’s stock.

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.