Norris Perne & French LLP MI Sells 131 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Norris Perne & French LLP MI lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,722 shares of the company’s stock after selling 131 shares during the quarter. L3Harris Technologies comprises 1.5% of Norris Perne & French LLP MI’s portfolio, making the stock its 28th biggest holding. Norris Perne & French LLP MI’s holdings in L3Harris Technologies were worth $20,339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in LHX. KCM Investment Advisors LLC boosted its position in shares of L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares during the period. Fortem Financial Group LLC bought a new stake in L3Harris Technologies during the third quarter valued at about $841,000. Czech National Bank boosted its stake in shares of L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after acquiring an additional 2,480 shares during the period. JPMorgan Chase & Co. lifted its holdings in 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 purchasing an additional 178,407 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction 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. This trade represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LHX has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft lowered their target price 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. Citigroup boosted their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Susquehanna reduced their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $271.07.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $211.75 on Friday. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74. The stock’s fifty day moving average price is $221.93 and its 200-day moving average price is $232.57. The firm has a market cap of $40.16 billion, a P/E ratio of 33.45, a P/E/G ratio of 1.69 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 announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

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.