Verity Asset Management Inc. Sells 1,017 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Verity Asset Management Inc. decreased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 39.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,551 shares of the company’s stock after selling 1,017 shares during the period. Verity Asset Management Inc.’s holdings in L3Harris Technologies were worth $326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Columbus Macro LLC increased its holdings in L3Harris Technologies by 494.1% during the 4th quarter. Columbus Macro LLC now owns 17,609 shares of the company’s stock worth $3,703,000 after purchasing an additional 14,645 shares in the last quarter. abrdn plc boosted its position in shares of L3Harris Technologies by 14.6% during the fourth quarter. abrdn plc now owns 19,801 shares of the company’s stock worth $4,139,000 after buying an additional 2,530 shares during the period. Optas LLC raised its position in L3Harris Technologies by 17.7% in the 4th quarter. Optas LLC now owns 1,627 shares of the company’s stock valued at $342,000 after buying an additional 245 shares during the last quarter. GDS Wealth Management lifted its stake in L3Harris Technologies by 3.8% in the 4th quarter. GDS Wealth Management now owns 79,585 shares of the company’s stock valued at $16,735,000 after acquiring an additional 2,884 shares in the last quarter. Finally, Means Investment CO. Inc. boosted its position in L3Harris Technologies by 21.2% during the 4th quarter. Means Investment CO. Inc. now owns 1,230 shares of the company’s stock worth $259,000 after acquiring an additional 215 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of LHX opened at $213.07 on Tuesday. The company’s 50-day moving average is $220.51 and its 200-day moving average is $232.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market capitalization of $40.41 billion, a PE ratio of 27.07, a PEG ratio of 1.74 and a beta of 0.76. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74.

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, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.8 EPS for the current year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 4,901 shares of company stock valued at $1,059,757. Insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LHX. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Bank of America cut their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. UBS Group upped their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.53.

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.