Rheos Capital Works Inc. Has $7.84 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Rheos Capital Works Inc. lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 44.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,300 shares of the company’s stock after selling 29,400 shares during the period. Rheos Capital Works Inc.’s holdings in L3Harris Technologies were worth $7,843,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Archer Investment Corp boosted its holdings in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in L3Harris Technologies during the 4th quarter worth about $33,000. Kennebec Savings Bank bought a new position in L3Harris Technologies in the 3rd quarter worth about $36,000. New Millennium Group LLC increased its position in shares of L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after buying an additional 163 shares during the period. Finally, Trust Co. of Vermont increased its position in shares of L3Harris Technologies by 78.9% in the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after purchasing an additional 86 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last ninety days. 0.87% of the stock is owned by company insiders.

L3Harris Technologies Trading Down 0.0 %

LHX stock opened at $211.99 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm’s fifty day simple moving average is $220.51 and its two-hundred day simple moving average is $232.17. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The stock has a market capitalization of $40.21 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 1.74 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 13.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on LHX. JPMorgan Chase & Co. lowered their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Citigroup raised their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wolfe Research raised shares of 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. Finally, Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.87.

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.