OLD National Bancorp IN Purchases 795 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

OLD National Bancorp IN boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 73.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,879 shares of the company’s stock after purchasing an additional 795 shares during the period. OLD National Bancorp IN’s holdings in L3Harris Technologies were worth $447,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LHX. Meeder Asset Management Inc. grew its position in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. EntryPoint Capital LLC boosted its stake in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the last quarter. Family Firm Inc. acquired a new position in L3Harris Technologies during the 2nd quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in L3Harris Technologies in the 2nd quarter valued at approximately $57,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LHX. Barclays boosted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company lowered their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Susquehanna lifted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.71.

L3Harris Technologies Stock Performance

Shares of LHX opened at $244.93 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The firm’s fifty day simple moving average is $235.84 and its two-hundred day simple moving average is $226.63. L3Harris Technologies, Inc. has a 12 month low of $169.55 and a 12 month high of $250.88. The stock has a market capitalization of $46.46 billion, a P/E ratio of 39.76, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73.

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

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders 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 currently 75.32%.

Insider Activity at L3Harris Technologies

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

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.