Vontobel Holding Ltd. Sells 404 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Vontobel Holding Ltd. lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 25.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,186 shares of the company’s stock after selling 404 shares during the quarter. Vontobel Holding Ltd.’s holdings in L3Harris Technologies were worth $249,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LHX. Archer Investment Corp lifted its position 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 during the last quarter. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies in the 4th quarter worth approximately $33,000. Kennebec Savings Bank bought a new stake in L3Harris Technologies in the third quarter valued at approximately $36,000. New Millennium Group LLC lifted its position in L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont lifted its position in L3Harris Technologies by 78.9% in the fourth 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. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LHX. JPMorgan Chase & Co. lowered their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Bank of America lowered their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Morgan Stanley lowered their price objective on 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. 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. Finally, Citigroup lowered their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $262.67.

L3Harris Technologies Trading Up 1.0 %

NYSE LHX opened at $199.13 on Friday. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a market cap of $37.50 billion, a P/E ratio of 25.30, a P/E/G ratio of 2.39 and a beta of 0.76. The stock’s fifty day moving average price is $210.26 and its 200-day moving average price is $229.06. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 4,901 shares of company stock valued at $1,059,757. Insiders own 0.82% of the company’s stock.

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.