Oak Thistle LLC Buys New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Oak Thistle LLC bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,980 shares of the company's stock, valued at approximately $2,729,000. L3Harris Technologies makes up 0.8% of Oak Thistle LLC's holdings, making the stock its 9th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. OneDigital Investment Advisors LLC raised its stake in L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock valued at $1,883,000 after buying an additional 40 shares during the last quarter. Koshinski Asset Management Inc. raised its position in shares of 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 purchasing an additional 42 shares during the last quarter. Blossom Wealth Management boosted its stake in L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company's stock worth $604,000 after purchasing an additional 43 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its position in L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock valued at $322,000 after purchasing an additional 43 shares during the last quarter. Finally, Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the company's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded down $0.86 on Wednesday, hitting $214.03. 981,350 shares of the company's stock were exchanged, compared to its average volume of 1,211,038. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market capitalization of $40.59 billion, a PE ratio of 33.81, a PEG ratio of 1.86 and a beta of 0.75. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The company has a 50-day simple moving average of $229.70 and a 200-day simple moving average of $233.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. L3Harris Technologies's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

Analyst Upgrades and Downgrades

LHX has been the topic of several analyst reports. Wolfe Research upgraded shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 target price on the stock in a research note on Thursday, October 10th. Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and lowered their price objective for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Barclays decreased their price target on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Finally, Susquehanna dropped their price objective on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $265.25.

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.