Oak Thistle LLC Acquires New Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Oak Thistle LLC bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 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 holdings, making the stock its 16th largest position.

Several other large investors have also recently bought and sold shares of the stock. Transcendent Capital Group LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $28,000. KB Financial Partners LLC grew its stake in shares of 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 purchasing an additional 82 shares during the last quarter. Blue Trust Inc. grew its stake in shares of 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 purchasing an additional 109 shares during the last quarter. Washington Trust Advisors Inc. grew its stake in shares of 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 purchasing an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Barclays lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. 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. Wells Fargo & Company boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Finally, Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $231.80.

Insiders Place Their Bets

In related news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $26,766,518.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the transaction, the vice president now owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The disclosure for this sale can be found here. Insiders sold 82,898 shares of company stock valued at $18,558,167 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Down 1.2 %

LHX traded down $2.62 on Monday, reaching $221.96. 613,057 shares of the company traded hands, compared to its average volume of 1,014,756. 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 company has a market cap of $42.10 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 1.88 and a beta of 0.71. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $228.13. The stock’s 50 day moving average price is $219.69 and its 200-day moving average price is $212.84.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate 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 net margin of 5.82% and a return on equity of 12.82%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.86 earnings per share. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 12.93 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Tuesday, June 4th. 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.