Oak Thistle LLC Purchases New Shares in L3Harris Technologies, Inc. (NYSE:LHX)

Oak Thistle LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,573 shares of the company’s stock, valued at approximately $761,000. L3Harris Technologies accounts for approximately 0.7% of Oak Thistle LLC’s investment portfolio, making the stock its 16th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth about $28,000. KB Financial Partners LLC lifted its stake in L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. Blue Trust Inc. lifted its stake in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares in the last quarter. Washington Trust Advisors Inc. lifted its stake in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after acquiring an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth about $46,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction on Friday, May 31st. The stock was sold at an average price of $222.45, for a total value of $5,561,250.00. Following the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $26,766,518.70. The disclosure for this sale can be found here. Insiders sold a total of 82,898 shares of company stock valued at $18,558,167 over the last three months. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Down 1.2 %

Shares of LHX stock traded down $2.62 on Monday, reaching $221.96. 613,057 shares of the stock were exchanged, compared to its average volume of 1,014,756. The stock has a market cap of $42.10 billion, a PE ratio of 36.11, a P/E/G ratio of 1.88 and a beta of 0.71. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $228.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The stock has a 50 day moving average price of $219.69 and a 200 day moving average price of $212.84.

L3Harris Technologies (NYSE:LHX) last released its 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 company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.86 earnings per share. Equities research analysts forecast that L3Harris Technologies, Inc. will post 12.93 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.09%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LHX shares. Royal Bank of Canada raised their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Barclays raised their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Wells Fargo & Company lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. raised their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.80.

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.