Oakworth Capital Inc. Purchases 130 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Oakworth Capital Inc. raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 24.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 671 shares of the company’s stock after acquiring an additional 130 shares during the period. Oakworth Capital Inc.’s holdings in L3Harris Technologies were worth $160,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its holdings in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares during the period. EntryPoint Capital LLC raised its position in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc raised its position in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of L3Harris Technologies in the second quarter valued at approximately $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of L3Harris Technologies in the second quarter valued at approximately $57,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LHX. Truist Financial lifted their price target on shares of L3Harris Technologies from $250.00 to $293.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Barclays lifted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Finally, Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.71.

L3Harris Technologies Stock Down 1.3 %

Shares of NYSE:LHX opened at $244.93 on Wednesday. The company has a fifty day moving average of $235.84 and a 200-day moving average of $226.63. The company has a market capitalization of $46.46 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies, Inc. has a 52-week low of $169.55 and a 52-week high of $250.88.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.97 earnings per share. On average, equities analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio is 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.