Fifth Third Bancorp Sells 2,643 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Fifth Third Bancorp trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,702 shares of the company’s stock after selling 2,643 shares during the period. Fifth Third Bancorp’s holdings in L3Harris Technologies were worth $8,559,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LHX. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at $36,000. Trust Co. of Vermont increased its stake in shares of L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after purchasing an additional 86 shares during the last quarter. MCF Advisors LLC lifted its position in shares of L3Harris Technologies by 84.0% during the 4th quarter. MCF Advisors LLC now owns 241 shares of the company’s stock worth $51,000 after buying an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in L3Harris Technologies in the third quarter valued at about $64,000. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LHX shares. Barclays lowered their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Citigroup increased their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Argus upgraded shares of 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. Wells Fargo & Company cut their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Finally, Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $266.19.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares of the company’s stock, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 7,889 shares of company stock valued at $1,800,572 in the last ninety days. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Down 0.5 %

Shares of NYSE LHX opened at $218.64 on Monday. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company’s 50 day moving average price is $223.62 and its 200-day moving average price is $232.86. The company has a market capitalization of $41.47 billion, a P/E ratio of 34.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last released its 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 net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the business earned $3.19 earnings per share. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

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.