Stanley Laman Group Ltd. Cuts Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Stanley Laman Group Ltd. trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,206 shares of the company’s stock after selling 969 shares during the quarter. Stanley Laman Group Ltd.’s holdings in L3Harris Technologies were worth $3,618,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of L3Harris Technologies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after purchasing an additional 59,008 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of L3Harris Technologies by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after purchasing an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after purchasing an additional 85,882 shares in the last quarter. Raymond James & Associates increased its holdings in shares of L3Harris Technologies by 3.0% during the 3rd quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock valued at $234,275,000 after purchasing an additional 28,882 shares in the last quarter. Finally, Mizuho Markets Americas LLC increased its holdings in L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after acquiring an additional 166,262 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 3.0 %

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

L3Harris Technologies (NYSE:LHX) last announced 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 net margin of 7.04% and a return on equity of 13.11%. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on LHX. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. UBS Group boosted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Citigroup cut their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday. Bank of America cut their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Finally, Barclays cut their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 4,901 shares of company stock worth $1,059,757. Company 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.