Yacktman Asset Management LP Lowers Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Yacktman Asset Management LP lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 601,308 shares of the company’s stock after selling 39,388 shares during the period. L3Harris Technologies accounts for approximately 1.5% of Yacktman Asset Management LP’s holdings, making the stock its 28th largest holding. Yacktman Asset Management LP’s holdings in L3Harris Technologies were worth $126,443,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. CWM LLC boosted its stake in L3Harris Technologies by 4.7% during the third quarter. CWM LLC now owns 5,954 shares of the company’s stock worth $1,416,000 after buying an additional 265 shares during the period. Wedmont Private Capital increased its holdings in L3Harris Technologies by 12.4% in the 3rd quarter. Wedmont Private Capital now owns 1,126 shares of the company’s stock valued at $272,000 after purchasing an additional 124 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in L3Harris Technologies by 231.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,100 shares of the company’s stock worth $262,000 after purchasing an additional 768 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of L3Harris Technologies by 6,787.5% during the third quarter. Exchange Traded Concepts LLC now owns 3,857 shares of the company’s stock worth $917,000 after buying an additional 3,801 shares during the period. Finally, CHICAGO TRUST Co NA grew its stake in shares of L3Harris Technologies by 19.7% in the third quarter. CHICAGO TRUST Co NA now owns 2,462 shares of the company’s stock valued at $586,000 after buying an additional 405 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on LHX. UBS Group increased their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Bank of America lowered their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Finally, Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $262.67.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 4,901 shares of company stock worth $1,059,757. 0.82% of the stock is owned by insiders.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $208.30 on Tuesday. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74. The firm has a market capitalization of $39.51 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.75 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company’s fifty day moving average price is $216.96 and its 200 day moving average price is $231.17.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.19 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.