Hartford Investment Management Co. Reduces Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Hartford Investment Management Co. reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,720 shares of the company’s stock after selling 227 shares during the period. Hartford Investment Management Co.’s holdings in L3Harris Technologies were worth $2,464,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in shares of 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 acquiring an additional 178,407 shares during the period. International Assets Investment Management LLC boosted its holdings 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 boosted its holdings in shares of L3Harris Technologies by 25.3% in 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 during the period. Janney Montgomery Scott LLC acquired a new stake in shares of L3Harris Technologies in the third quarter valued at approximately $35,904,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of L3Harris Technologies by 156.2% in the third quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock valued at $35,259,000 after acquiring an additional 90,370 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup decreased their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, Truist Financial decreased their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now owns 6,812 shares in the company, valued at $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 in the last ninety days. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $200.48 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 12 month low of $199.56 and a 12 month high of $265.74. The firm has a market capitalization of $38.03 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. The business’s 50 day simple moving average is $215.60 and its 200-day simple moving average is $230.76.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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, equities analysts forecast 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.