Cross Staff Investments Inc Acquires 158 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Cross Staff Investments Inc boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,432 shares of the company’s stock after purchasing an additional 158 shares during the quarter. Cross Staff Investments Inc’s holdings in L3Harris Technologies were worth $302,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LHX. Meritage Portfolio Management lifted its holdings in shares of L3Harris Technologies by 8.8% in the fourth quarter. Meritage Portfolio Management now owns 1,639 shares of the company’s stock worth $345,000 after buying an additional 133 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in L3Harris Technologies by 7.0% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,438 shares of the company’s stock worth $935,000 after purchasing an additional 292 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of L3Harris Technologies by 1.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 11,551 shares of the company’s stock valued at $2,433,000 after purchasing an additional 187 shares during the last quarter. Carret Asset Management LLC grew its position in shares of L3Harris Technologies by 0.6% during the fourth quarter. Carret Asset Management LLC now owns 16,480 shares of the company’s stock valued at $3,471,000 after purchasing an additional 98 shares in the last quarter. Finally, South Dakota Investment Council increased its holdings in shares of L3Harris Technologies by 1.3% in the fourth quarter. South Dakota Investment Council now owns 39,868 shares of the company’s stock worth $8,397,000 after purchasing an additional 500 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Raymond James raised their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Citigroup raised their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. UBS Group upped their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research note on Monday. Finally, Royal Bank of Canada upped their target price on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $229.60.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Trading Up 4.2 %

Shares of NYSE LHX traded up $8.75 during trading hours on Friday, reaching $216.11. The stock had a trading volume of 1,483,093 shares, compared to its average volume of 1,117,319. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The firm has a market cap of $41.08 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of 1.93 and a beta of 0.65. The business’s fifty day moving average price is $210.11 and its two-hundred day moving average price is $201.04. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.86 EPS. Analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

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.