Pinnacle Bancorp Inc. Purchases 76 Shares of L3Harris Technologies Inc (NYSE:LHX)

Pinnacle Bancorp Inc. raised its position in L3Harris Technologies Inc (NYSE:LHX) by 27.3% in the 1st quarter, Holdings Channel reports. The firm owned 354 shares of the company’s stock after buying an additional 76 shares during the period. Pinnacle Bancorp Inc.’s holdings in L3Harris Technologies were worth $74,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LHX. Golden State Wealth Management LLC increased its position in shares of L3Harris Technologies by 351.3% in the 1st quarter. Golden State Wealth Management LLC now owns 898 shares of the company’s stock valued at $188,000 after buying an additional 699 shares in the last quarter. Independent Solutions Wealth Management LLC grew its stake in L3Harris Technologies by 21.0% in the first quarter. Independent Solutions Wealth Management LLC now owns 1,422 shares of the company’s stock valued at $298,000 after acquiring an additional 247 shares during the period. Mattern Capital Management LLC grew its stake in L3Harris Technologies by 5.0% in the first quarter. Mattern Capital Management LLC now owns 39,972 shares of the company’s stock valued at $8,367,000 after acquiring an additional 1,913 shares during the period. Riverbend Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the first quarter worth about $206,000. Finally, Daymark Wealth Partners LLC raised its position in shares of L3Harris Technologies by 1.7% during the first quarter. Daymark Wealth Partners LLC now owns 26,925 shares of the company’s stock worth $5,636,000 after purchasing an additional 446 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 33,061 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the transaction, the chief executive officer now directly owns 145,572 shares of the company’s stock, valued at approximately $36,171,730.56. The trade was a 18.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider now owns 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LHX shares. Wells Fargo & Company cut their price objective on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group cut their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Truist Financial cut their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and increased their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $258.75.

L3Harris Technologies Stock Up 0.6%

LHX stock opened at $248.20 on Thursday. The company has a market cap of $46.40 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 1.97 and a beta of 0.74. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $265.74. The business has a 50 day moving average price of $233.22 and a two-hundred day moving average price of $218.86. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the business earned $3.06 earnings per share. Analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

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.