New England Research & Management Inc. Sells 3,350 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

New England Research & Management Inc. cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 57.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,495 shares of the company’s stock after selling 3,350 shares during the quarter. New England Research & Management Inc.’s holdings in L3Harris Technologies were worth $525,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. OneDigital Investment Advisors LLC increased its stake in shares of L3Harris Technologies by 0.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after buying an additional 40 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in shares of L3Harris Technologies by 2.7% in the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after buying an additional 42 shares in the last quarter. Blossom Wealth Management increased its stake in shares of L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after buying an additional 43 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its stake in shares of L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after buying an additional 43 shares in the last quarter. Finally, Archer Investment Corp increased its stake in shares of 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 buying an additional 43 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Down 0.6 %

NYSE LHX opened at $212.12 on Thursday. The stock has a market capitalization of $40.23 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 1.75 and a beta of 0.75. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The stock’s 50 day moving average price is $222.57 and its two-hundred day moving average price is $232.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LHX shares. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. 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. Truist Financial lowered their price objective on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Argus upgraded 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, Deutsche Bank Aktiengesellschaft lowered their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $271.07.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 7,889 shares of company stock valued at $1,800,572 in the last 90 days. 0.82% of the stock is currently owned by insiders.

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.