US Bancorp DE Trims Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

US Bancorp DE lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% during the 4th quarter, HoldingsChannel reports. The fund owned 260,898 shares of the company’s stock after selling 2,702 shares during the period. US Bancorp DE’s holdings in L3Harris Technologies were worth $54,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in LHX. Pallas Capital Advisors LLC grew its holdings in L3Harris Technologies by 8.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 1,043 shares of the company’s stock valued at $255,000 after buying an additional 78 shares in the last quarter. Stephens Investment Management Group LLC boosted its position in shares of L3Harris Technologies by 20.1% in the third quarter. Stephens Investment Management Group LLC now owns 71,497 shares of the company’s stock valued at $17,007,000 after acquiring an additional 11,948 shares during the period. Campbell Wealth Management purchased a new position in L3Harris Technologies during the third quarter valued at approximately $235,000. Lowe Brockenbrough & Co. Inc. increased its holdings in L3Harris Technologies by 17.1% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 1,119 shares of the company’s stock worth $266,000 after acquiring an additional 163 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in L3Harris Technologies by 7.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,646 shares of the company’s stock worth $629,000 after acquiring an additional 179 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Up 0.7 %

LHX stock opened at $206.23 on Friday. The company has a market capitalization of $38.84 billion, a PE ratio of 26.20, 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 quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company’s 50 day moving average price is $209.05 and its two-hundred day moving average price is $228.21.

L3Harris Technologies (NYSE:LHX) last issued its 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 net margin of 7.04% and a return on equity of 13.11%. As a group, analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 4,901 shares of company stock worth $1,059,757. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LHX shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. UBS Group upped their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Finally, Truist Financial cut their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $261.47.

L3Harris Technologies 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.