Rosenberg Matthew Hamilton Sells 61 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Rosenberg Matthew Hamilton lowered its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 326 shares of the company’s stock after selling 61 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in L3Harris Technologies were worth $69,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

LHX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Tuesday, November 26th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Citigroup boosted their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $265.25.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $214.65 on Wednesday. The stock has a market cap of $40.71 billion, a price-to-earnings ratio of 33.91, a P/E/G ratio of 1.86 and a beta of 0.75. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The business’s 50-day simple moving average is $229.70 and its 200 day simple moving average is $233.23.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 EPS. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 7,889 shares of company stock valued at $1,800,572. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Company 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.