NorthCrest Asset Manangement LLC Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

NorthCrest Asset Manangement LLC increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,423 shares of the company's stock after buying an additional 1,261 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in L3Harris Technologies were worth $12,916,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LHX. Northstar Financial Companies Inc. purchased a new position in shares of L3Harris Technologies in the 4th quarter valued at $411,000. Capstone Triton Financial Group LLC increased its position in L3Harris Technologies by 5.2% during the 4th quarter. Capstone Triton Financial Group LLC now owns 4,952 shares of the company's stock worth $1,041,000 after purchasing an additional 243 shares in the last quarter. Park Square Financial Group LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at $37,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of L3Harris Technologies in the fourth quarter worth approximately $5,105,000. Finally, Jefferies Financial Group Inc. purchased a new stake in L3Harris Technologies during the fourth quarter valued at about $232,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Buying and Selling

In other news, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,961 shares of company stock worth $1,585,297. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded up $1.01 during midday trading on Friday, reaching $244.43. 2,784,686 shares of the stock traded hands, compared to its average volume of 1,099,669. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company's 50 day moving average is $219.62 and its 200 day moving average is $218.64. The stock has a market capitalization of $45.70 billion, a PE ratio of 31.06, a P/E/G ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the company posted $3.06 earnings per share. L3Harris Technologies's revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.96%. L3Harris Technologies's payout ratio is currently 56.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LHX. Citigroup cut their target price on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Truist Financial cut their target price on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Bank of America lowered their target price on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group reduced their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $256.56.

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.