L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in L3Harris Technologies, Inc. (NYSE:LHX) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,214,378 shares of the company’s stock after selling 420,102 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.69% of L3Harris Technologies worth $675,919,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $30,000. Archer Investment Corp lifted its holdings in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $33,000. Kennebec Savings Bank acquired a new position in shares of L3Harris Technologies in the third quarter worth $36,000. Finally, New Millennium Group LLC increased its position in shares of L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after acquiring an additional 163 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value 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. The trade was a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 4,901 shares of company stock worth $1,059,757. 0.87% of the stock is owned by insiders.

L3Harris Technologies Price Performance

Shares of LHX opened at $204.19 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The stock has a market cap of $38.45 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The firm has a fifty day moving average price of $209.53 and a 200 day moving average price of $228.71.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LHX. Citigroup decreased their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Truist Financial decreased their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, January 31st. 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. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Finally, Susquehanna lowered their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $262.67.

About L3Harris Technologies

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.