Bailard Inc. Lowers Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Bailard Inc. lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 15.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 23,167 shares of the company’s stock after selling 4,392 shares during the period. Bailard Inc.’s holdings in L3Harris Technologies were worth $4,872,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Lowe Brockenbrough & Co. Inc. lifted its position in L3Harris Technologies by 17.1% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 1,119 shares of the company’s stock valued at $266,000 after purchasing an additional 163 shares during the period. Farther Finance Advisors LLC raised its stake in shares of L3Harris Technologies by 7.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,646 shares of the company’s stock worth $629,000 after buying an additional 179 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its holdings in shares of L3Harris Technologies by 1.4% in the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 10,235 shares of the company’s stock valued at $2,435,000 after buying an additional 142 shares during the period. Pure Financial Advisors LLC boosted its stake in shares of L3Harris Technologies by 16.9% in the third quarter. Pure Financial Advisors LLC now owns 1,407 shares of the company’s stock valued at $335,000 after buying an additional 203 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in L3Harris Technologies during the third quarter worth $35,904,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LHX shares. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Barclays reduced their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $300.00 to $269.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Susquehanna decreased their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $261.47.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the sale, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 4,901 shares of company stock worth $1,059,757. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $206.23 on Monday. The stock’s 50 day moving average price is $209.05 and its 200 day moving average price is $228.22. The firm has a market cap of $38.84 billion, a P/E ratio of 26.20, a PEG 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 1 year low of $193.09 and a 1 year 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, beating 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%. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal 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.