L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,280 shares of the company’s stock after selling 55 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in L3Harris Technologies were worth $1,321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Archer Investment Corp raised its position in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Roxbury Financial LLC bought a new stake in L3Harris Technologies in the fourth quarter worth about $30,000. Kennebec Savings Bank acquired a new stake in L3Harris Technologies during the 3rd quarter worth about $36,000. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the 4th quarter worth about $33,000. Finally, New Millennium Group LLC raised its holdings in L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after buying an additional 163 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Down 0.5 %

Shares of NYSE LHX opened at $194.80 on Thursday. The stock has a market cap of $36.95 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 2.43 and a beta of 0.76. The business has a 50 day simple moving average of $211.28 and a 200 day simple moving average of $229.48. L3Harris Technologies, Inc. has a 52 week low of $194.25 and a 52 week high of $265.74. 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 (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate 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, research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on LHX shares. Susquehanna cut their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Morgan Stanley cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. UBS Group boosted their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Bank of America lowered their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $262.67.

Insider Activity

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction 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 transaction, the insider now 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 through this link. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 over the last 90 days. 0.87% of the stock is currently owned by company insiders.

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.