Oppenheimer Asset Management Inc. cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 29.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,308 shares of the company’s stock after selling 3,886 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in L3Harris Technologies were worth $1,621,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the business. Eagle Bay Advisors LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter worth $30,000. Strategic Investment Solutions Inc. IL bought a new position in L3Harris Technologies in the 1st quarter worth about $27,000. First Capital Advisors Group LLC. bought a new position in L3Harris Technologies in the 2nd quarter worth about $29,000. Mascoma Wealth Management LLC bought a new position in L3Harris Technologies in the 3rd quarter worth about $27,000. Finally, Union Savings Bank bought a new position in L3Harris Technologies in the 2nd quarter worth about $34,000. 81.33% of the stock is owned by hedge funds and other institutional investors.
L3Harris Technologies Price Performance
LHX opened at $207.71 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $219.31. The stock has a market capitalization of $39.37 billion, a PE ratio of 32.25, a price-to-earnings-growth ratio of 2.42 and a beta of 0.66. The stock’s 50 day moving average price is $205.33 and its 200-day moving average price is $188.81.
Insider Activity at L3Harris Technologies
In related news, insider Edward J. Zoiss sold 4,742 shares of L3Harris Technologies stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $190.00, for a total transaction of $900,980.00. Following the sale, the insider now directly owns 27,183 shares in the company, valued at $5,164,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several research analysts have commented on LHX shares. TheStreet upgraded L3Harris Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Royal Bank of Canada lifted their price target on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Raymond James lifted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, UBS Group lifted their price target on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $225.29.
L3Harris Technologies Company Profile
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, modification, and periodic depot maintenance services for ISR and airborne missions.
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