Narwhal Capital Management Sells 2,912 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Narwhal Capital Management trimmed its position in L3Harris Technologies, Inc. (NYSE:LHX) by 6.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,873 shares of the company’s stock after selling 2,912 shares during the period. L3Harris Technologies makes up approximately 0.9% of Narwhal Capital Management’s portfolio, making the stock its 27th biggest position. Narwhal Capital Management’s holdings in L3Harris Technologies were worth $9,646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LHX. Archer Investment Corp lifted its holdings in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Kennebec Savings Bank acquired a new position in L3Harris Technologies during the third quarter worth $36,000. Trust Co. of Vermont lifted its stake in shares of L3Harris Technologies by 78.9% in the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after buying an additional 86 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of L3Harris Technologies by 84.0% during the fourth quarter. MCF Advisors LLC now owns 241 shares of the company’s stock valued at $51,000 after buying an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of L3Harris Technologies during the third quarter worth about $64,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 7,889 shares of company stock valued at $1,800,572 over the last three months. 0.82% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of analyst reports. Citigroup lifted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Wells Fargo & Company decreased their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Truist Financial cut their price objective on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $266.19.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $218.64 on Monday. The business’s 50 day simple moving average is $223.62 and its 200 day simple moving average is $232.86. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74. The company has a market cap of $41.47 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 1.75 and a beta of 0.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the prior year, the firm earned $3.19 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.07 EPS for the current year.

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.