L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,600 shares of the company’s stock after selling 105 shares during the period. Oppenheimer Asset Management Inc.’s holdings in L3Harris Technologies were worth $1,094,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LHX. Edgestream Partners L.P. increased its holdings in shares of L3Harris Technologies by 151.6% in the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after acquiring an additional 2,325 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of L3Harris Technologies by 47.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,880 shares of the company’s stock worth $2,319,000 after acquiring an additional 3,513 shares during the period. UniSuper Management Pty Ltd increased its holdings in shares of L3Harris Technologies by 291.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 6,809 shares of the company’s stock worth $1,451,000 after acquiring an additional 5,070 shares during the period. Bessemer Group Inc. grew its position in L3Harris Technologies by 111.6% in the 1st quarter. Bessemer Group Inc. now owns 13,629 shares of the company’s stock valued at $2,904,000 after buying an additional 7,187 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in L3Harris Technologies in the 1st quarter valued at about $235,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 8,964 shares of company stock valued at $2,179,119 over the last 90 days. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LHX shares. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Barclays increased their target price 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. Wells Fargo & Company raised their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Citigroup raised their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $267.50.

L3Harris Technologies Price Performance

NYSE LHX opened at $244.27 on Tuesday. The company has a 50 day simple moving average of $243.46 and a 200-day simple moving average of $232.52. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market capitalization of $46.33 billion, a price-to-earnings ratio of 38.59, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72. L3Harris Technologies, Inc. has a 52-week low of $184.34 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.19 earnings per share. Equities research analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is 73.30%.

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.