Koss Olinger Consulting LLC Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Koss Olinger Consulting LLC bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,639 shares of the company’s stock, valued at approximately $1,042,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. RFG Advisory LLC increased its stake in L3Harris Technologies by 3.1% in the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after acquiring an additional 43 shares during the last quarter. Optas LLC raised its holdings in shares of L3Harris Technologies by 3.3% during the 2nd quarter. Optas LLC now owns 1,381 shares of the company’s stock worth $310,000 after buying an additional 44 shares in the last quarter. Founders Financial Securities LLC lifted its position in shares of L3Harris Technologies by 2.8% during the 2nd quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock worth $398,000 after buying an additional 48 shares during the last quarter. Whitener Capital Management Inc. boosted its stake in L3Harris Technologies by 3.0% in the second quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock valued at $385,000 after buying an additional 50 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its position in L3Harris Technologies by 12.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock valued at $103,000 after acquiring an additional 53 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LHX. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Barclays raised their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Susquehanna upped their price target 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. Deutsche Bank Aktiengesellschaft downgraded 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. Finally, Wells Fargo & Company lowered their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $247.08.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $227.23 on Friday. The stock’s 50 day moving average is $230.60 and its 200 day moving average is $220.65. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $245.60. The firm has a market cap of $43.10 billion, a P/E ratio of 36.89, a P/E/G ratio of 1.96 and a beta of 0.73. 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 issued its quarterly 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 firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the company earned $2.97 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 2.04%. L3Harris Technologies’s payout ratio is currently 75.32%.

Insider Transactions at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following 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 SEC, which can be accessed through the SEC website. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the transaction, the vice president now directly owns 14,186 shares in the company, valued at approximately $3,074,531.78. 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. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Company 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.