Cornell Pochily Investment Advisors Inc. Sells 160 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Cornell Pochily Investment Advisors Inc. lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,910 shares of the company’s stock after selling 160 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in L3Harris Technologies were worth $402,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after purchasing an additional 59,008 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of L3Harris Technologies by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after buying an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after buying an additional 85,882 shares during the last quarter. Raymond James & Associates grew its holdings in shares of L3Harris Technologies by 3.0% during the third quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock valued at $234,275,000 after buying an additional 28,882 shares during the last quarter. Finally, Mizuho Markets Americas LLC increased its position in shares of L3Harris Technologies by 25.3% during the third 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. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on LHX shares. Barclays cut their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Truist Financial cut their target price on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. 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 report on Thursday, January 2nd. Finally, Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $266.19.

L3Harris Technologies Trading Down 0.5 %

Shares of LHX stock opened at $218.64 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market cap of $41.47 billion, a P/E ratio of 34.54, a PEG ratio of 1.75 and a beta of 0.75. The company has a 50 day moving average of $223.62 and a 200-day moving average of $232.90. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74.

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

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the company’s 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 sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is owned by insiders.

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.