Lion Street Advisors LLC Reduces Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Lion Street Advisors LLC lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 36.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,169 shares of the company’s stock after selling 657 shares during the period. Lion Street Advisors LLC’s holdings in L3Harris Technologies were worth $246,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. OneDigital Investment Advisors LLC grew its holdings in L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after buying an additional 40 shares during the last quarter. Koshinski Asset Management Inc. lifted its position in shares of L3Harris Technologies by 2.7% in the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after acquiring an additional 42 shares in the last quarter. Blossom Wealth Management boosted its stake in shares of L3Harris Technologies by 1.7% during the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after acquiring an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its position in L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after purchasing an additional 43 shares in the last quarter. Finally, Archer Investment Corp raised its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Bank of America cut their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Thursday, October 10th. Finally, Citigroup upped their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Five research 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $263.07.

L3Harris Technologies Stock Down 0.9 %

LHX opened at $208.89 on Thursday. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The firm has a 50 day moving average price of $219.26 and a 200 day moving average price of $231.83. 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 company has a market cap of $39.62 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 1.74 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last released 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%. Sell-side analysts expect that L3Harris Technologies, Inc. will post 13.8 earnings per share for the current year.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was 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. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 4,901 shares of company stock worth $1,059,757. Corporate insiders own 0.87% of the company’s stock.

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.