L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,695 shares of the company’s stock after selling 258 shares during the quarter. Flputnam Investment Management Co.’s holdings in L3Harris Technologies were worth $6,455,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies in the 4th quarter worth $27,000. Archer Investment Corp lifted its holdings in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $30,000. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $36,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 4,901 shares of company stock worth $1,059,757 over the last three months. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $300.00 to $269.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Barclays lowered their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Morgan Stanley lowered their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Susquehanna lowered their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $261.47.

L3Harris Technologies Price Performance

NYSE LHX opened at $206.23 on Friday. The company has a 50-day moving average price of $209.05 and a two-hundred day moving average price of $228.21. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a market cap of $38.84 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) 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%. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS 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.