Pallas Capital Advisors LLC Sells 54 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Pallas Capital Advisors LLC lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 989 shares of the company’s stock after selling 54 shares during the quarter. Pallas Capital Advisors LLC’s holdings in L3Harris Technologies were worth $208,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LHX. Oppenheimer Asset Management Inc. raised its position in shares of L3Harris Technologies by 6.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,705 shares of the company’s stock valued at $1,057,000 after buying an additional 268 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of L3Harris Technologies by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock valued at $315,611,000 after purchasing an additional 156,453 shares in the last quarter. Edgestream Partners L.P. increased its holdings in shares of L3Harris Technologies by 18.1% in the second quarter. Edgestream Partners L.P. now owns 4,557 shares of the company’s stock worth $1,023,000 after purchasing an additional 698 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of L3Harris Technologies by 4.8% in the second quarter. Axxcess Wealth Management LLC now owns 4,867 shares of the company’s stock worth $1,093,000 after buying an additional 224 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in L3Harris Technologies by 8.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,473 shares of the company’s stock valued at $1,454,000 after buying an additional 482 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $214.03 on Thursday. The company has a market capitalization of $40.59 billion, a P/E ratio of 33.81, a P/E/G ratio of 1.86 and a beta of 0.75. The company’s 50-day simple moving average is $229.70 and its two-hundred day simple moving average is $233.23. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the company posted $3.19 EPS. L3Harris Technologies’s revenue was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research report on Thursday, October 10th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Citigroup increased their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada boosted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Finally, Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.25.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at $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 is available through this link. In the last quarter, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by corporate 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.