L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC reduced its position in L3Harris Technologies, Inc. (NYSE:LHX) by 8.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,401 shares of the company’s stock after selling 4,954 shares during the quarter. ARK Investment Management LLC’s holdings in L3Harris Technologies were worth $11,439,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LHX. Geode Capital Management LLC raised its stake in shares of L3Harris Technologies by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after purchasing an additional 59,008 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after purchasing an additional 85,882 shares during the last quarter. Mizuho Markets Americas LLC raised its stake in shares of L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of L3Harris Technologies by 29.9% during the third 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 during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of L3Harris Technologies by 4.8% during the third quarter. The Manufacturers Life Insurance Company now owns 455,095 shares of the company’s stock worth $108,253,000 after purchasing an additional 20,808 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 4,901 shares of company stock valued at $1,059,757 over the last three months. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Up 2.2 %

LHX opened at $204.19 on Wednesday. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year 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. The stock’s fifty day moving average is $209.53 and its 200-day moving average is $228.71. The company has a market capitalization of $38.45 billion, a PE ratio of 25.94, a P/E/G ratio of 2.42 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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 return on equity of 13.11% and a net margin of 7.04%. On average, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LHX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective 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. JPMorgan Chase & Co. cut their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Susquehanna cut their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Citigroup cut their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, Morgan Stanley cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $262.67.

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.