Trust Co. of Oklahoma Buys 581 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Trust Co. of Oklahoma lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 30.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,500 shares of the company’s stock after purchasing an additional 581 shares during the quarter. Trust Co. of Oklahoma’s holdings in L3Harris Technologies were worth $533,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Carret Asset Management LLC raised its stake in shares of L3Harris Technologies by 1.7% during the 1st quarter. Carret Asset Management LLC now owns 16,758 shares of the company’s stock valued at $3,571,000 after purchasing an additional 278 shares during the period. Iams Wealth Management LLC raised its stake in shares of L3Harris Technologies by 0.8% during the 1st quarter. Iams Wealth Management LLC now owns 8,312 shares of the company’s stock valued at $1,772,000 after purchasing an additional 64 shares during the period. Allspring Global Investments Holdings LLC increased its stake in L3Harris Technologies by 3.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,108,596 shares of the company’s stock worth $449,342,000 after acquiring an additional 66,770 shares during the last quarter. Oak Thistle LLC bought a new position in L3Harris Technologies in the 1st quarter worth about $761,000. Finally, BKM Wealth Management LLC increased its stake in L3Harris Technologies by 12.4% in the 1st quarter. BKM Wealth Management LLC now owns 5,863 shares of the company’s stock worth $1,249,000 after acquiring an additional 649 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Royal Bank of Canada upped their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. upped their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research note on Monday, April 22nd. Finally, Barclays upped their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $231.80.

L3Harris Technologies Trading Up 0.4 %

LHX stock traded up $0.84 during trading on Wednesday, hitting $224.44. 422,248 shares of the company traded hands, compared to its average volume of 1,006,008. The firm has a market capitalization of $42.57 billion, a PE ratio of 36.49, a P/E/G ratio of 1.88 and a beta of 0.72. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $228.13. The company has a 50-day moving average of $220.29 and a 200-day moving average of $213.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. L3Harris Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.86 EPS. Analysts predict that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,157,578.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $222.45, for a total value of $5,561,250.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $26,766,518.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,898 shares of company stock worth $18,558,167. 0.87% of the stock is currently owned by company insiders.

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.