Trust Co. of Oklahoma Cuts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Trust Co. of Oklahoma cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 29.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,460 shares of the company’s stock after selling 1,423 shares during the quarter. Trust Co. of Oklahoma’s holdings in L3Harris Technologies were worth $728,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. AE Wealth Management LLC grew its stake in L3Harris Technologies by 64.0% during the second quarter. AE Wealth Management LLC now owns 2,772 shares of the company’s stock valued at $623,000 after acquiring an additional 1,082 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of L3Harris Technologies by 1.2% during the 2nd quarter. Pacer Advisors Inc. now owns 13,593 shares of the company’s stock valued at $3,053,000 after purchasing an additional 166 shares during the last quarter. ProShare Advisors LLC grew its position in shares of L3Harris Technologies by 8.6% during the second quarter. ProShare Advisors LLC now owns 26,202 shares of the company’s stock valued at $5,884,000 after purchasing an additional 2,075 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in shares of L3Harris Technologies by 21,733.3% in the second quarter. Frank Rimerman Advisors LLC now owns 1,310 shares of the company’s stock worth $294,000 after purchasing an additional 1,304 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of L3Harris Technologies by 72.6% in the second quarter. Public Sector Pension Investment Board now owns 7,208 shares of the company’s stock worth $1,619,000 after buying an additional 3,032 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Susquehanna reduced their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Barclays lowered their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $220.02 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a market cap of $41.73 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 1.78 and a beta of 0.75. The firm has a 50-day moving average of $224.75 and a two-hundred day moving average of $232.95. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. L3Harris Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.19 earnings per share. On average, research analysts forecast that L3Harris Technologies, Inc. will post 13.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now owns 10,340 shares in the company, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by company insiders.

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.