Rothschild Investment LLC Cuts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Rothschild Investment LLC cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 44.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 344 shares of the company’s stock after selling 278 shares during the quarter. Rothschild Investment LLC’s holdings in L3Harris Technologies were worth $72,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LHX. JPMorgan Chase & Co. increased its position in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares in the last quarter. Mizuho Markets Americas LLC increased its position in shares of L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after buying an additional 166,262 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of L3Harris Technologies in the third quarter valued at approximately $35,904,000. Rockefeller Capital Management L.P. increased its position in shares of L3Harris Technologies by 156.2% in the third quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock valued at $35,259,000 after buying an additional 90,370 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position 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 in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now owns 8,576 shares of the company’s stock, valued at $1,917,765.12. This represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 in the last quarter. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $202.28 on Thursday. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The business’s fifty day simple moving average is $209.31 and its 200-day simple moving average is $228.53. The firm has a market cap of $38.09 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

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%. Equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LHX shares. UBS Group boosted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Susquehanna dropped their price target 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 dropped their price target 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 dropped their price target 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 assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $261.47.

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.