First Citizens Bank & Trust Co. Reduces Position in L3Harris Technologies, Inc. (NYSE:LHX)

First Citizens Bank & Trust Co. lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,440 shares of the company’s stock after selling 392 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in L3Harris Technologies were worth $2,195,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted 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 acquiring an additional 178,407 shares during the period. International Assets Investment Management LLC lifted its position in L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after buying an additional 169,878 shares during the period. Mizuho Markets Americas LLC lifted its position in L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after buying an additional 166,262 shares during the period. Janney Montgomery Scott LLC purchased a new position in L3Harris Technologies during the third quarter valued at $35,904,000. Finally, Rockefeller Capital Management L.P. lifted its position in L3Harris Technologies by 156.2% during the third quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock valued at $35,259,000 after buying an additional 90,370 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent research reports. Royal Bank of Canada raised their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Wells Fargo & Company lowered their price objective 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. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Tuesday, November 26th. Finally, Barclays lowered their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $266.19.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

NYSE LHX opened at $218.64 on Monday. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The stock has a 50-day moving average of $223.62 and a 200 day moving average of $232.86. The company has a market capitalization of $41.47 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 1.75 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping 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 company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the company earned $3.19 EPS. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.07 EPS 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.