OLD National Bancorp IN Sells 151 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

OLD National Bancorp IN cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,170 shares of the company’s stock after selling 151 shares during the quarter. OLD National Bancorp IN’s holdings in L3Harris Technologies were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Strong Tower Advisory Services grew its stake in L3Harris Technologies by 0.9% in the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after purchasing an additional 49 shares in the last quarter. Blossom Wealth Management grew its stake in L3Harris Technologies by 2.1% in the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after purchasing an additional 51 shares in the last quarter. Cassaday & Co Wealth Management LLC grew its stake in L3Harris Technologies by 3.8% in the third quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock valued at $282,000 after purchasing an additional 59 shares in the last quarter. Sky Investment Group LLC grew its stake in L3Harris Technologies by 4.2% in the third quarter. Sky Investment Group LLC now owns 1,495 shares of the company’s stock valued at $260,000 after purchasing an additional 60 shares in the last quarter. Finally, Twin Lakes Capital Management LLC grew its stake in L3Harris Technologies by 0.4% in the third quarter. Twin Lakes Capital Management LLC now owns 14,695 shares of the company’s stock valued at $2,559,000 after purchasing an additional 60 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LHX shares. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a research note on Thursday, January 11th. Wells Fargo & Company reduced their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Finally, Raymond James lifted their target price on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $229.60.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $207.71 on Thursday. The stock has a market capitalization of $39.49 billion, a PE ratio of 32.25, a P/E/G ratio of 1.93 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. The business has a fifty day moving average price of $210.19 and a two-hundred day moving average price of $200.99. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.04. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.27 EPS. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 annualized dividend and a yield of 2.23%. L3Harris Technologies’s dividend payout ratio is presently 72.05%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director William H. Swanson purchased 1,250 shares of L3Harris Technologies stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 in the last three months. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies 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.