Valmark Advisers Inc. Cuts Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Valmark Advisers Inc. lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,909 shares of the company’s stock after selling 820 shares during the period. Valmark Advisers Inc.’s holdings in L3Harris Technologies were worth $1,032,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning boosted its holdings in shares of L3Harris Technologies by 1.2% in the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after purchasing an additional 512 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of L3Harris Technologies by 2.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,869 shares of the company’s stock worth $682,000 after purchasing an additional 73 shares in the last quarter. Blue Trust Inc. boosted its stake in L3Harris Technologies by 96.7% in the third quarter. Blue Trust Inc. now owns 653 shares of the company’s stock worth $147,000 after buying an additional 321 shares in the last quarter. Cyndeo Wealth Partners LLC purchased a new stake in L3Harris Technologies in the third quarter worth approximately $203,000. Finally, OLD National Bancorp IN boosted its stake in L3Harris Technologies by 73.3% in the third quarter. OLD National Bancorp IN now owns 1,879 shares of the company’s stock worth $447,000 after buying an additional 795 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 in the last quarter. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LHX. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Morgan Stanley cut their price target on shares of 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. Truist Financial cut their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Finally, Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

L3Harris Technologies Trading Down 1.0 %

NYSE:LHX opened at $198.02 on Tuesday. The company has a 50-day moving average price of $213.30 and a 200-day moving average price of $230.19. L3Harris Technologies, Inc. has a 12 month low of $196.67 and a 12 month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a market cap of $37.56 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities analysts predict that L3Harris Technologies, Inc. will post 11.19 EPS for the current year.

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.