Koss Olinger Consulting LLC Purchases Shares of 4,639 L3Harris Technologies, Inc. (NYSE:LHX)

Koss Olinger Consulting LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,639 shares of the company’s stock, valued at approximately $1,042,000.

Other large investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $205,000. 9258 Wealth Management LLC lifted its stake in L3Harris Technologies by 20.0% in the 4th quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock valued at $921,000 after acquiring an additional 727 shares in the last quarter. Rollins Financial acquired a new position in L3Harris Technologies during the 4th quarter worth approximately $217,000. Private Advisor Group LLC grew its stake in shares of L3Harris Technologies by 79.2% during the 4th quarter. Private Advisor Group LLC now owns 12,382 shares of the company’s stock worth $2,608,000 after acquiring an additional 5,473 shares in the last quarter. Finally, Gryphon Financial Partners LLC raised its holdings in shares of L3Harris Technologies by 26.1% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,808 shares of the company’s stock valued at $384,000 after purchasing an additional 374 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Susquehanna increased their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price objective for the company from $245.00 to $257.00 in a report on Friday, July 26th. Barclays upped their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company decreased their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

L3Harris Technologies Trading Down 1.8 %

LHX stock opened at $227.23 on Friday. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $245.60. The stock has a market cap of $43.10 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. The company has a fifty day moving average price of $230.60 and a two-hundred day moving average price of $220.65. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter last year, the company posted $2.97 EPS. L3Harris Technologies’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Insider Buying and Selling

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the transaction, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies 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 completion of the sale, the vice president now owns 14,186 shares in the company, valued at approximately $3,074,531.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,110 shares of company stock valued at $8,319,939. Insiders own 0.82% of the company’s stock.

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.