Chesapeake Wealth Management Sells 138 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Chesapeake Wealth Management cut its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,887 shares of the company’s stock after selling 138 shares during the quarter. Chesapeake Wealth Management’s holdings in L3Harris Technologies were worth $1,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after buying an additional 59,008 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of L3Harris Technologies by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after purchasing an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after purchasing an additional 85,882 shares in the last quarter. Raymond James & Associates grew its stake in L3Harris Technologies by 3.0% in the third quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock worth $234,275,000 after purchasing an additional 28,882 shares during the period. Finally, Mizuho Markets Americas LLC raised its holdings in L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 0.1 %

Shares of LHX stock opened at $218.22 on Tuesday. The stock has a market capitalization of $41.39 billion, a P/E ratio of 34.47, a P/E/G ratio of 1.74 and a beta of 0.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $227.28 and its 200 day moving average is $233.09. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. Research analysts expect that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the sale, the insider now directly owns 8,576 shares in the company, valued at $1,917,765.12. This represents a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 7,889 shares of company stock worth $1,800,572 in the last quarter. Company insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Barclays dropped their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada upped their price target 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, 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 note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $266.19.

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.