Aljian Capital Management LLC Decreases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Aljian Capital Management LLC trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,748 shares of the company’s stock after selling 56 shares during the quarter. Aljian Capital Management LLC’s holdings in L3Harris Technologies were worth $1,629,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Archer Investment Corp boosted its holdings in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in L3Harris Technologies during the fourth quarter worth $33,000. Kennebec Savings Bank purchased a new stake in L3Harris Technologies in the 3rd quarter valued at $36,000. New Millennium Group LLC increased its stake in shares of L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after acquiring an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after acquiring an additional 86 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LHX. Barclays dropped their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Morgan Stanley dropped their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Finally, UBS Group lifted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $262.67.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Down 3.0 %

L3Harris Technologies stock opened at $200.48 on Thursday. The firm has a market capitalization of $38.03 billion, a P/E ratio of 25.47, a P/E/G ratio of 1.75 and a beta of 0.76. The stock’s fifty day simple moving average is $214.80 and its 200-day simple moving average is $230.55. L3Harris Technologies, Inc. has a twelve month low of $199.56 and a twelve month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued 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 return on equity of 13.11% and a net margin of 7.04%. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 11.19 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.