Manning & Napier Advisors LLC Sells 228,462 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Manning & Napier Advisors LLC lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 26.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 642,408 shares of the company’s stock after selling 228,462 shares during the quarter. L3Harris Technologies makes up about 1.5% of Manning & Napier Advisors LLC’s holdings, making the stock its 21st largest position. Manning & Napier Advisors LLC owned approximately 0.34% of L3Harris Technologies worth $135,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of LHX. Public Sector Pension Investment Board lifted its holdings in shares of L3Harris Technologies by 72.6% in the second quarter. Public Sector Pension Investment Board now owns 7,208 shares of the company’s stock valued at $1,619,000 after purchasing an additional 3,032 shares in the last quarter. AXA S.A. bought a new stake in L3Harris Technologies during the second quarter worth $292,000. Mackenzie Financial Corp lifted its holdings in L3Harris Technologies by 2.5% during the second quarter. Mackenzie Financial Corp now owns 17,342 shares of the company’s stock worth $3,895,000 after acquiring an additional 416 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in L3Harris Technologies by 5.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 44,323 shares of the company’s stock worth $9,955,000 after acquiring an additional 2,406 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in L3Harris Technologies by 15.3% during the second quarter. B. Riley Wealth Advisors Inc. now owns 8,157 shares of the company’s stock worth $1,832,000 after acquiring an additional 1,083 shares during the period. Institutional investors own 84.76% of the company’s stock.

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 completion of the transaction, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 7,889 shares of company stock valued at $1,800,572 over the last ninety days. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Truist Financial dropped their price target on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft decreased their target price 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. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, Citigroup boosted their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Five investment 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 has a consensus rating of “Moderate Buy” and a consensus target price of $266.19.

L3Harris Technologies Trading Down 0.1 %

NYSE LHX traded down $0.29 during trading hours on Wednesday, hitting $213.01. 161,059 shares of the company were exchanged, compared to its average volume of 1,120,568. The stock has a 50-day moving average price of $222.57 and a 200 day moving average price of $232.71. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The stock has a market cap of $40.40 billion, a PE ratio of 33.72, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75.

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.