BTC Capital Management Inc. Sells 383 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

BTC Capital Management Inc. cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 30,287 shares of the company’s stock after selling 383 shares during the period. BTC Capital Management Inc.’s holdings in L3Harris Technologies were worth $6,363,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. AXA S.A. acquired a new stake in L3Harris Technologies in the second quarter worth about $292,000. B. Riley Wealth Advisors Inc. increased its stake in L3Harris Technologies by 15.3% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 8,157 shares of the company’s stock valued at $1,832,000 after purchasing an additional 1,083 shares in the last quarter. Truist Financial Corp raised its stake in L3Harris Technologies by 19.2% in the 2nd quarter. Truist Financial Corp now owns 133,536 shares of the company’s stock worth $29,990,000 after acquiring an additional 21,529 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of L3Harris Technologies by 1.9% during the second quarter. Cetera Investment Advisers now owns 64,747 shares of the company’s stock worth $14,541,000 after purchasing an additional 1,217 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of L3Harris Technologies in the 2nd quarter valued at $5,770,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $211.75 on Friday. 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. The firm has a market capitalization of $40.16 billion, a PE ratio of 33.45, a P/E/G ratio of 1.69 and a beta of 0.75. The business’s 50 day moving average price is $221.23 and its 200-day moving average price is $232.43.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. 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. JPMorgan Chase & Co. decreased their price target on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Barclays dropped their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $271.07.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction 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 in the company, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 7,889 shares of company stock worth $1,800,572. Insiders own 0.82% of the company’s stock.

L3Harris Technologies 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.