Narwhal Capital Management Has $9.65 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Narwhal Capital Management reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,873 shares of the company’s stock after selling 2,912 shares during the quarter. L3Harris Technologies accounts for 0.9% of Narwhal Capital Management’s holdings, making the stock its 27th biggest holding. Narwhal Capital Management’s holdings in L3Harris Technologies were worth $9,646,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. KCM Investment Advisors LLC grew its stake in L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after buying an additional 5,868 shares in the last quarter. Fortem Financial Group LLC acquired a new stake in shares of L3Harris Technologies during the 3rd quarter worth approximately $841,000. Czech National Bank raised its position in L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after purchasing an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after purchasing an additional 4,321 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LHX. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a report on Thursday, October 10th. Truist Financial decreased their price target on shares of L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Finally, Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $266.19.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the firm’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 sale, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 7,889 shares of company stock valued at $1,800,572 over the last quarter. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $218.64 on Monday. The business has a 50-day moving average of $223.62 and a 200-day moving average of $232.86. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The company has a market capitalization of $41.47 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. 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 quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the company earned $3.19 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

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.