Oppenheimer Asset Management Inc. Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Oppenheimer Asset Management Inc. increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 6.0% in the second quarter, Holdings Channel reports. The institutional investor owned 4,705 shares of the company’s stock after acquiring an additional 268 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in L3Harris Technologies were worth $1,057,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. 9258 Wealth Management LLC raised its stake in shares of L3Harris Technologies by 20.0% in the 4th quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock valued at $921,000 after purchasing an additional 727 shares in the last quarter. Rollins Financial bought a new stake in L3Harris Technologies in the fourth quarter valued at about $217,000. Gryphon Financial Partners LLC raised its stake in L3Harris Technologies by 26.1% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,808 shares of the company’s stock valued at $384,000 after buying an additional 374 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its holdings in L3Harris Technologies by 5.2% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 2,970 shares of the company’s stock worth $626,000 after buying an additional 147 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of L3Harris Technologies by 7.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,020 shares of the company’s stock worth $636,000 after acquiring an additional 208 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LHX. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price objective for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. Barclays lifted their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company reduced their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $247.08.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,402 shares of company stock worth $6,861,855. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Up 0.3 %

L3Harris Technologies stock opened at $230.46 on Friday. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The stock has a market cap of $43.71 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 1.95 and a beta of 0.73. The company’s 50-day moving average price is $231.31 and its two-hundred day moving average price is $221.65. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the business earned $2.97 earnings per share. On average, analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 2.01%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

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.