Sei Investments Co. lowered its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 84.0% during the fourth quarter, HoldingsChannel reports. The firm owned 93,049 shares of the company’s stock after selling 490,038 shares during the quarter. Sei Investments Co.’s holdings in L3Harris Technologies were worth $17,593,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Simmons Bank increased its stake in L3Harris Technologies by 28.2% during the 4th quarter. Simmons Bank now owns 3,067 shares of the company’s stock worth $580,000 after purchasing an additional 675 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in L3Harris Technologies by 8.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,109,670 shares of the company’s stock valued at $209,750,000 after acquiring an additional 85,163 shares in the last quarter. Flagship Harbor Advisors LLC boosted its stake in L3Harris Technologies by 15.0% in the 4th quarter. Flagship Harbor Advisors LLC now owns 1,447 shares of the company’s stock worth $273,000 after purchasing an additional 189 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in L3Harris Technologies by 1.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 22,332 shares of the company’s stock worth $4,221,000 after purchasing an additional 219 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of L3Harris Technologies by 18.4% in the 4th quarter. Russell Investments Group Ltd. now owns 99,670 shares of the company’s stock valued at $18,791,000 after purchasing an additional 15,487 shares during the period. Institutional investors and hedge funds own 80.58% of the company’s stock.
In other L3Harris Technologies news, VP Todd A. Taylor sold 4,976 shares of the company’s stock in a transaction on Monday, December 7th. The shares were sold at an average price of $194.64, for a total value of $968,528.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.
A number of research analysts recently issued reports on LHX shares. Royal Bank of Canada decreased their price objective on L3Harris Technologies from $219.00 to $199.00 and set an “outperform” rating for the company in a report on Monday, November 2nd. Morgan Stanley lowered their price objective on shares of L3Harris Technologies from $235.00 to $226.00 and set an “overweight” rating on the stock in a report on Monday, February 8th. JPMorgan Chase & Co. lowered shares of L3Harris Technologies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $220.00 to $215.00 in a research report on Tuesday, December 15th. Citigroup decreased their target price on shares of L3Harris Technologies from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, February 1st. Finally, Credit Suisse Group reduced their price objective on shares of L3Harris Technologies from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, February 1st. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. L3Harris Technologies currently has an average rating of “Buy” and an average price target of $224.20.
Shares of NYSE LHX opened at $188.32 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average price is $183.78 and its two-hundred day moving average price is $182.47. The company has a market cap of $39.57 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 0.96 and a beta of 0.80. L3Harris Technologies, Inc. has a twelve month low of $142.01 and a twelve month high of $220.78.
L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 28th. The company reported $3.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.09 by $0.05. L3Harris Technologies had a return on equity of 11.29% and a net margin of 7.18%. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the company posted $2.85 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 11.55 EPS for the current fiscal year.
About L3Harris Technologies
L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modifications, and periodic depot maintenance services for ISR and airborne missions.
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