Kestra Investment Management LLC Sells 422 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Kestra Investment Management LLC reduced its position in L3Harris Technologies, Inc. (NYSE:LHX) by 25.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,232 shares of the company’s stock after selling 422 shares during the period. Kestra Investment Management LLC’s holdings in L3Harris Technologies were worth $259,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at $30,000. Archer Investment Corp lifted its stake in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the fourth quarter worth approximately $33,000. Kennebec Savings Bank bought a new stake in L3Harris Technologies in the third quarter worth approximately $36,000. Finally, New Millennium Group LLC lifted its stake in 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 buying an additional 163 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LHX has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Bank of America decreased their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Morgan Stanley dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, UBS Group raised their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $262.67.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last 90 days. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $194.80 on Thursday. 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 $36.95 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.43 and a beta of 0.76. The stock’s fifty day simple moving average is $211.28 and its two-hundred day simple moving average is $229.48. L3Harris Technologies, Inc. has a 1-year low of $194.25 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. As a group, analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS 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.