Pinnacle Bancorp Inc. Has $74,000 Holdings in L3Harris Technologies Inc (NYSE:LHX)

Pinnacle Bancorp Inc. lifted its position in L3Harris Technologies Inc (NYSE:LHX) by 27.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 354 shares of the company’s stock after purchasing an additional 76 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in L3Harris Technologies were worth $74,000 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. Meeder Asset Management Inc. raised its stake in shares of L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after buying an additional 82 shares in the last quarter. Millstone Evans Group LLC acquired a new position in L3Harris Technologies in the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies during the fourth quarter worth about $27,000. Beacon Capital Management LLC lifted its stake in L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in 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 purchasing an additional 111 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Activity

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 145,572 shares in the company, valued at approximately $36,171,730.56. The trade was a 18.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider now owns 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Up 0.6%

Shares of NYSE:LHX opened at $248.20 on Thursday. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $265.74. The firm has a market cap of $46.40 billion, a P/E ratio of 29.44, a P/E/G ratio of 1.97 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $233.22 and its two-hundred day moving average price is $218.86.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating 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%. L3Harris Technologies’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.06 earnings per share. As a group, research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.93%. L3Harris Technologies’s payout ratio is currently 56.94%.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of recent research reports. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and increased their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. UBS Group upped their price target on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. Truist Financial dropped their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Wells Fargo & Company cut their price objective on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Jefferies Financial Group lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.