L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Lion Street Advisors LLC

Lion Street Advisors LLC lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 36.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,169 shares of the company’s stock after selling 657 shares during the quarter. Lion Street Advisors LLC’s holdings in L3Harris Technologies were worth $246,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Archer Investment Corp lifted its stake in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in L3Harris Technologies during the 4th quarter worth approximately $33,000. Kennebec Savings Bank acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at approximately $36,000. New Millennium Group LLC boosted its stake in shares of L3Harris Technologies by 776.2% during the 4th 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 last quarter. Finally, Trust Co. of Vermont grew its position in shares of L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after buying an additional 86 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. 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 note on Thursday, October 10th. Finally, UBS Group lifted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $263.07.

L3Harris Technologies Stock Performance

LHX stock opened at $208.89 on Thursday. The stock’s fifty day moving average is $219.26 and its two-hundred day moving average is $231.83. The stock has a market capitalization of $39.62 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.74 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, research analysts predict that L3Harris Technologies, Inc. will post 13.8 EPS for the current year.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 4,901 shares of company stock worth $1,059,757. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Company 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.