Applied Capital LLC FL Lowers Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Applied Capital LLC FL decreased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,559 shares of the company’s stock after selling 54 shares during the period. Applied Capital LLC FL’s holdings in L3Harris Technologies were worth $959,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of L3Harris Technologies by 65.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after buying an additional 171,420 shares during the period. International Assets Investment Management LLC lifted its position in shares of L3Harris Technologies by 23,627.0% during the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after buying an additional 169,878 shares in the last quarter. Mizuho Markets Americas LLC grew its stake in L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after acquiring an additional 166,262 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in L3Harris Technologies in the 3rd quarter worth $35,904,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 7,889 shares of company stock valued at $1,800,572 in the last quarter. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on LHX. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. 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. Royal Bank of Canada increased their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. JPMorgan Chase & Co. lowered their price target on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $266.19.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $218.64 on Friday. The firm has a 50 day simple moving average of $223.62 and a 200-day simple moving average of $232.81. The stock has a market cap of $41.47 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74.

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