L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Bourne Lent Asset Management Inc.

Bourne Lent Asset Management Inc. lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 6,940 shares of the company’s stock after selling 50 shares during the period. L3Harris Technologies comprises approximately 0.6% of Bourne Lent Asset Management Inc.’s holdings, making the stock its 28th biggest position. Bourne Lent Asset Management Inc.’s holdings in L3Harris Technologies were worth $1,459,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Archer Investment Corp boosted its stake in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth $36,000. Trust Co. of Vermont raised its holdings in shares of L3Harris Technologies by 78.9% during the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after acquiring an additional 86 shares during the period. MCF Advisors LLC raised its holdings in shares of L3Harris Technologies by 84.0% during the 4th quarter. MCF Advisors LLC now owns 241 shares of the company’s stock worth $51,000 after acquiring an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth $64,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Susquehanna reduced their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. 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, the company currently has an average rating of “Moderate Buy” and an average target price of $266.19.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 7,889 shares of company stock valued at $1,800,572. 0.87% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $222.95 on Wednesday. The business has a 50-day simple moving average of $226.36 and a 200-day simple moving average of $233.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market cap of $42.29 billion, a PE ratio of 35.22, a P/E/G ratio of 1.74 and a beta of 0.75. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.19 earnings per share. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.07 EPS 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.