L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,080 shares of the company’s stock after selling 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in L3Harris Technologies were worth $1,909,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Archer Investment Corp grew its position in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. Kennebec Savings Bank acquired a new position in L3Harris Technologies during the third quarter worth about $36,000. Union Bancaire Privee UBP SA acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $33,000. New Millennium Group LLC grew its position in shares of L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont grew its position in shares of L3Harris Technologies by 78.9% in the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after purchasing an additional 86 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 4,901 shares of company stock valued at $1,059,757. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $198.02 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market cap of $37.56 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.75 and a beta of 0.76. L3Harris Technologies, Inc. has a fifty-two week low of $196.67 and a fifty-two week high of $265.74. The firm’s 50 day moving average is $213.30 and its two-hundred day moving average is $230.16.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Analysts expect that L3Harris Technologies, Inc. will post 11.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Bank of America lowered their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Morgan Stanley lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Citigroup decreased their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $262.67.

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.