L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Cross Staff Investments Inc

Cross Staff Investments Inc boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 12.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. KB Financial Partners LLC boosted its stake in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new position in L3Harris Technologies in the third quarter worth $35,000. Blue Trust Inc. grew its holdings in L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares during the last quarter. Washington Trust Advisors Inc. raised its position in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter valued at $46,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In other news, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction 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 owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Up 4.2 %

L3Harris Technologies stock traded up $8.75 during midday trading on Friday, reaching $216.11. The company’s stock had a trading volume of 1,483,093 shares, compared to its average volume of 1,117,319. The stock’s 50-day simple moving average is $210.11 and its 200-day simple moving average is $201.04. The stock has a market capitalization of $41.08 billion, a P/E ratio of 33.02, a PEG ratio of 1.93 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34.

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

L3Harris Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research report on Monday. UBS Group upped their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a research report on Thursday, January 11th. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Finally, Citigroup boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.60.

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.