L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its position in L3Harris Technologies, Inc. (NYSE:LHX) by 9.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,556 shares of the company’s stock after selling 3,329 shares during the period. Oppenheimer & Co. Inc.’s holdings in L3Harris Technologies were worth $7,536,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in L3Harris Technologies during the 4th quarter worth approximately $28,000. EntryPoint Capital LLC raised its position in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares in the last quarter. Versant Capital Management Inc lifted its stake in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares during the last quarter. Family Firm Inc. acquired a new position in L3Harris Technologies in the second quarter worth $45,000. Finally, Sachetta LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at $49,000. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent research reports. 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 research report on Monday, July 29th. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and upped their target price for the company from $245.00 to $257.00 in a report on Friday, July 26th. Wells Fargo & Company cut their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $247.08.

Insider Activity

In related news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the transaction, the vice president now owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the sale, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the transaction, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,756 shares of company stock worth $7,588,767. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

LHX stock opened at $229.77 on Friday. The company has a 50-day simple moving average of $231.07 and a 200 day simple moving average of $221.13. The company has a market capitalization of $43.58 billion, a P/E ratio of 37.30, a PEG 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, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The company 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%. The business’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 posted $2.97 EPS. Sell-side analysts predict that L3Harris Technologies, Inc. will post 13.06 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, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is currently 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.