44 Wealth Management LLC Sells 518 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

44 Wealth Management LLC decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,859 shares of the company’s stock after selling 518 shares during the period. 44 Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in shares of L3Harris Technologies by 96.7% in the 3rd quarter. Blue Trust Inc. now owns 653 shares of the company’s stock valued at $147,000 after buying an additional 321 shares during the period. International Assets Investment Management LLC boosted its stake in L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after buying an additional 169,878 shares during the last quarter. CENTRAL TRUST Co boosted its holdings in L3Harris Technologies by 14.9% in the 3rd quarter. CENTRAL TRUST Co now owns 4,602 shares of the company’s stock valued at $1,095,000 after purchasing an additional 596 shares during the last quarter. Tectonic Advisors LLC increased its stake in L3Harris Technologies by 5.3% during the third quarter. Tectonic Advisors LLC now owns 2,185 shares of the company’s stock worth $520,000 after acquiring an additional 110 shares during the last quarter. Finally, Nicholson Wealth Management Group LLC acquired a new position in L3Harris Technologies in the third quarter valued at about $1,623,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 4,901 shares of company stock worth $1,059,757. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

LHX has been the topic of a number of research reports. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Bank of America decreased their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $199.13 on Friday. The firm has a market capitalization of $37.50 billion, a PE ratio of 25.30, a PEG ratio of 2.39 and a beta of 0.76. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The firm’s fifty day simple moving average is $210.26 and its 200 day simple moving average is $229.06. 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 data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating 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, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

About L3Harris Technologies

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.