L3Harris Technologies Inc $LHX Position Boosted by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lifted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,093 shares of the company’s stock after purchasing an additional 1,794 shares during the period. NorthCrest Asset Manangement LLC’s holdings in L3Harris Technologies were worth $20,580,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Caitlin John LLC acquired a new position in L3Harris Technologies in the third quarter worth approximately $28,000. JPL Wealth Management LLC acquired a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $29,000. Triumph Capital Management acquired a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $31,000. GGM Financials LLC bought a new stake in shares of L3Harris Technologies during the 3rd quarter worth $32,000. Finally, Salomon & Ludwin LLC bought a new stake in shares of L3Harris Technologies during the 3rd quarter worth $34,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada boosted their target price on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Finally, Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $328.57.

Insider Transactions at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,378 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total transaction of $811,968.10. Following the transaction, the vice president owned 4,882 shares in the company, valued at approximately $1,666,958.90. This trade represents a 32.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Samir Mehta sold 5,528 shares of L3Harris Technologies stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. The trade was a 41.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,025 shares of company stock worth $6,824,370 in the last 90 days. 0.72% of the stock is owned by insiders.

L3Harris Technologies Stock Down 2.9%

Shares of L3Harris Technologies stock opened at $353.20 on Friday. The firm has a market cap of $65.97 billion, a price-to-earnings ratio of 41.41, a P/E/G ratio of 2.55 and a beta of 0.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. L3Harris Technologies Inc has a 52-week low of $195.72 and a 52-week high of $379.23. The stock has a 50-day simple moving average of $353.58 and a 200-day simple moving average of $311.90.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.47 earnings per share. On average, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were paid a dividend of $1.25 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date was Friday, March 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 58.62%.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.