L3Harris Technologies, Inc. (NYSE:LHX) Holdings Reduced by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.7% in the fourth quarter, HoldingsChannel reports. The fund owned 2,936 shares of the company’s stock after selling 80 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in L3Harris Technologies were worth $618,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of LHX. Cross Staff Investments Inc raised its position in shares of L3Harris Technologies by 12.4% during the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after buying an additional 158 shares in the last quarter. Boston Partners raised its holdings in L3Harris Technologies by 107.2% during the fourth quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after purchasing an additional 420,943 shares in the last quarter. Victory Capital Management Inc. lifted its position in L3Harris Technologies by 40.0% in the fourth quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after purchasing an additional 30,358 shares during the period. Sapient Capital LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter valued at $1,198,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter valued at $46,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. raised their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a report on Monday, April 22nd. Finally, UBS Group upped their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $231.80.

Insiders Place Their Bets

In other news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares in the company, valued at $332,285.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

LHX stock traded down $1.54 during trading on Thursday, reaching $223.78. 575,436 shares of the stock were exchanged, compared to its average volume of 1,063,525. The stock has a 50 day simple moving average of $212.06 and a 200-day simple moving average of $206.65. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $42.45 billion, a P/E ratio of 36.58, a price-to-earnings-growth ratio of 1.89 and a beta of 0.63. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $225.90.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.86 earnings per share. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.92 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.07%. L3Harris Technologies’s dividend payout ratio is 75.32%.

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.