L3Harris Technologies, Inc. (NYSE:LHX) Stake Lowered by Transcendent Capital Group LLC

Transcendent Capital Group LLC reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 92.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 137 shares of the company’s stock after selling 1,745 shares during the period. Transcendent Capital Group LLC’s holdings in L3Harris Technologies were worth $29,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Archer Investment Corp grew 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 valued at $31,000 after acquiring an additional 43 shares in the last quarter. Roxbury Financial LLC bought a new stake in L3Harris Technologies in the fourth quarter worth $30,000. Kennebec Savings Bank bought a new stake in L3Harris Technologies in the third quarter worth $36,000. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies in the fourth quarter worth $33,000. Finally, New Millennium Group LLC boosted its holdings in L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 4,901 shares of company stock valued at $1,059,757 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Up 2.2 %

Shares of LHX opened at $204.19 on Wednesday. The company has a 50-day simple moving average of $209.53 and a 200-day simple moving average of $228.71. The firm has a market capitalization of $38.45 billion, a P/E ratio of 25.94, a P/E/G ratio of 2.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

Analyst Ratings Changes

LHX has been the subject of a number of recent research reports. 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 report on Tuesday, February 4th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. UBS Group upped their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Susquehanna decreased their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $262.67.

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.