Oppenheimer & Co. Inc. Grows Position in L3Harris Technologies Inc (NYSE:LHX)

Oppenheimer & Co. Inc. increased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,411 shares of the company's stock after buying an additional 1,093 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in L3Harris Technologies were worth $6,575,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. increased its stake in shares of L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after buying an additional 82 shares during the period. Millstone Evans Group LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $27,000. Beacon Capital Management LLC grew its position in L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after buying an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX traded up $1.55 on Wednesday, reaching $248.20. The company's stock had a trading volume of 963,685 shares, compared to its average volume of 1,144,058. The stock's 50 day simple moving average is $233.22 and its two-hundred day simple moving average is $218.86. The stock has a market capitalization of $46.40 billion, a P/E ratio of 29.44, a PEG ratio of 1.97 and a beta of 0.74. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The company's revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.06 EPS. Research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a dividend of $1.20 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.93%. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

Insider Activity

In other news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the transaction, the insider now directly owns 25,325 shares of the company's stock, valued at $6,204,625. The trade was a 7.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the transaction, the chief executive officer now directly owns 145,572 shares in the company, valued at $36,171,730.56. This represents a 18.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Citigroup increased their target price on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, June 9th. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Jefferies Financial Group dropped their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Truist Financial dropped their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.75.

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.