Wilmington Savings Fund Society FSB Lowers Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Wilmington Savings Fund Society FSB reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,790 shares of the company’s stock after selling 375 shares during the period. Wilmington Savings Fund Society FSB’s holdings in L3Harris Technologies were worth $1,428,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Apollon Wealth Management LLC increased its holdings in shares of L3Harris Technologies by 10.1% during the 4th quarter. Apollon Wealth Management LLC now owns 18,528 shares of the company’s stock worth $3,896,000 after buying an additional 1,696 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in L3Harris Technologies during the fourth quarter valued at about $42,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in L3Harris Technologies by 13.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,088 shares of the company’s stock worth $4,645,000 after acquiring an additional 2,545 shares during the last quarter. Spectrum Asset Management Inc. NB CA raised its holdings in shares of L3Harris Technologies by 5.8% in the 4th quarter. Spectrum Asset Management Inc. NB CA now owns 15,867 shares of the company’s stock worth $3,337,000 after purchasing an additional 871 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at about $10,228,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Down 0.3 %

LHX stock opened at $206.05 on Monday. The stock has a market cap of $39.08 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. The firm’s 50-day simple moving average is $216.96 and its 200 day simple moving average is $231.21. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.19 EPS for the current year.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was 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 of the company’s stock, 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 at this link. Insiders have sold 4,901 shares of company stock valued at $1,059,757 in the last quarter. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on LHX shares. Deutsche Bank Aktiengesellschaft reduced their price target 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. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Morgan Stanley lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $263.07.

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.