New Century Financial Group LLC Lowers Position in L3Harris Technologies, Inc. (NYSE:LHX)

New Century Financial Group LLC decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 43.7% during the fourth quarter, Holdings Channel reports. The fund owned 1,160 shares of the company’s stock after selling 899 shares during the period. New Century Financial Group LLC’s holdings in L3Harris Technologies were worth $243,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of L3Harris Technologies by 65.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after acquiring an additional 171,420 shares in the last quarter. International Assets Investment Management LLC lifted its position in L3Harris Technologies by 23,627.0% during the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after acquiring an additional 169,878 shares during the period. Mizuho Markets Americas LLC boosted its stake in 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. Finally, Janney Montgomery Scott LLC purchased a new stake in L3Harris Technologies in the third quarter worth about $35,904,000. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 7,889 shares of company stock valued at $1,800,572 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Susquehanna cut their target price 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. Wells Fargo & Company lowered their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Barclays cut their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $266.19.

L3Harris Technologies Trading Down 0.5 %

Shares of LHX stock opened at $218.64 on Friday. 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 company has a market cap of $41.47 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 1.75 and a beta of 0.75. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The firm has a fifty day moving average price of $224.18 and a 200-day moving average price of $232.86.

L3Harris Technologies (NYSE:LHX) last released its quarterly 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 business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

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.