Asio Capital LLC Has $248,000 Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Asio Capital LLC cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 20.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,178 shares of the company’s stock after selling 300 shares during the quarter. Asio Capital LLC’s holdings in L3Harris Technologies were worth $248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. KCM Investment Advisors LLC grew its position in L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after purchasing an additional 5,868 shares in the last quarter. Fortem Financial Group LLC acquired a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $841,000. Czech National Bank grew its holdings in shares of L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after acquiring an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. increased its stake 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 worth $184,245,000 after acquiring an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after acquiring an additional 4,321 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions 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 transaction of $394,465.68. Following the sale, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, 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

LHX has been the topic of several research reports. Susquehanna dropped their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada increased their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Barclays dropped their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

L3Harris Technologies Stock Performance

LHX opened at $218.64 on Friday. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The firm 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. The stock’s 50 day moving average price is $223.62 and its two-hundred day moving average price is $232.81. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

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