New Century Financial Group LLC Trims Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

New Century Financial Group LLC lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 43.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,160 shares of the company’s stock after selling 899 shares during the period. New Century Financial Group LLC’s holdings in L3Harris Technologies were worth $243,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of L3Harris Technologies by 65.2% in the second 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 in the last quarter. International Assets Investment Management LLC boosted its position in shares of L3Harris Technologies by 23,627.0% in the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after acquiring an additional 169,878 shares during the period. Mizuho Markets Americas LLC grew its stake in L3Harris Technologies by 25.3% during the third 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 in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in L3Harris Technologies during the 3rd quarter worth approximately $35,904,000. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Argus upgraded shares of 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. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $266.19.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $218.64 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 one year low of $200.18 and a one year high of $265.74. The business’s 50 day simple moving average is $224.18 and its two-hundred day simple moving average is $232.86. The stock has a market capitalization of $41.47 billion, a P/E ratio of 34.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 earnings per share. Analysts forecast that L3Harris Technologies, Inc. will post 13.07 EPS for the current year.

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.