L3Harris Technologies, Inc. (NYSE:LHX) Holdings Lowered by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 9.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,556 shares of the company’s stock after selling 3,329 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in L3Harris Technologies were worth $7,536,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. BOKF NA boosted its holdings in shares of L3Harris Technologies by 8.3% in the second quarter. BOKF NA now owns 17,278 shares of the company’s stock worth $3,880,000 after buying an additional 1,328 shares during the period. Johnson Investment Counsel Inc. lifted its position in shares of L3Harris Technologies by 6.2% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 5,101 shares of the company’s stock valued at $1,146,000 after acquiring an additional 299 shares in the last quarter. Bahl & Gaynor Inc. boosted its stake in L3Harris Technologies by 32.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 158,664 shares of the company’s stock worth $35,633,000 after purchasing an additional 38,896 shares during the period. Trifecta Capital Advisors LLC grew its position in L3Harris Technologies by 62,973.7% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 11,984 shares of the company’s stock worth $2,691,000 after purchasing an additional 11,965 shares in the last quarter. Finally, Carson Advisory Inc. raised its stake in L3Harris Technologies by 5.4% during the 2nd quarter. Carson Advisory Inc. now owns 1,104 shares of the company’s stock valued at $248,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $229.77 on Friday. The company has a 50 day moving average price of $231.07 and a two-hundred day moving average price of $221.13. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $245.60. The stock has a market capitalization of $43.58 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.06. The business had revenue of $5.30 billion during 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%. L3Harris Technologies’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.97 EPS. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 2.02%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Analysts Set New Price Targets

LHX has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price 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. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $275.00 to $257.00 in a report on Friday, August 9th. Susquehanna raised their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price objective for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $247.08.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 16,316 shares in the company, valued at approximately $3,861,670.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 10,527 shares of the company’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 sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,756 shares of company stock valued at $7,588,767. Insiders own 0.82% of the company’s stock.

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.