Mattern Wealth Management LLC Has $1.28 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Mattern Wealth Management LLC reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 11.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,087 shares of the company’s stock after selling 825 shares during the period. Mattern Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,280,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LHX. Public Sector Pension Investment Board increased its holdings in L3Harris Technologies by 72.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 7,208 shares of the company’s stock worth $1,619,000 after purchasing an additional 3,032 shares in the last quarter. AXA S.A. acquired a new stake in L3Harris Technologies in the second quarter valued at $292,000. Mackenzie Financial Corp increased its stake in shares of L3Harris Technologies by 2.5% during the 2nd quarter. Mackenzie Financial Corp now owns 17,342 shares of the company’s stock worth $3,895,000 after purchasing an additional 416 shares during the last quarter. Ascent Group LLC increased its position in L3Harris Technologies by 14.9% during the second quarter. Ascent Group LLC now owns 11,199 shares of the company’s stock worth $2,515,000 after buying an additional 1,449 shares during the last quarter. Finally, Magnolia Capital Advisors LLC acquired a new stake in shares of L3Harris Technologies in the second quarter valued at approximately $720,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research analyst reports. Susquehanna dropped their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, October 10th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Truist Financial dropped their price target on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $266.19.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 7,889 shares of company stock worth $1,800,572 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $222.31 on Tuesday. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a market cap of $42.16 billion, a price-to-earnings ratio of 35.12, a P/E/G ratio of 1.75 and a beta of 0.75. The company has a 50 day simple moving average of $223.62 and a 200 day simple moving average of $232.90.

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.