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

Trust Co. of Oklahoma reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 29.1% in the fourth quarter, HoldingsChannel reports. The firm owned 3,460 shares of the company’s stock after selling 1,423 shares during the period. Trust Co. of Oklahoma’s holdings in L3Harris Technologies were worth $728,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LHX. OneDigital Investment Advisors LLC increased its stake in shares of L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after purchasing an additional 40 shares in the last quarter. Koshinski Asset Management Inc. boosted its holdings in L3Harris Technologies by 2.7% in the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after buying an additional 42 shares during the last quarter. Blossom Wealth Management increased its stake in L3Harris Technologies by 1.7% during the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after buying an additional 43 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in shares of L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after acquiring an additional 43 shares during the last quarter. Finally, Archer Investment Corp lifted its position in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 7,889 shares of company stock valued at $1,800,572 over the last 90 days. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LHX. Truist Financial dropped their price target on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Susquehanna dropped their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Barclays reduced their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $266.19.

L3Harris Technologies Price Performance

LHX stock opened at $220.02 on Thursday. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. 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 business has a fifty day moving average of $224.75 and a two-hundred day moving average of $232.95.

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

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.