NorthCrest Asset Manangement LLC Has $13.36 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

NorthCrest Asset Manangement LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,848 shares of the company's stock after buying an additional 2,425 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in L3Harris Technologies were worth $13,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of LHX. Empowered Funds LLC raised its position in L3Harris Technologies by 24.3% in the fourth quarter. Empowered Funds LLC now owns 19,735 shares of the company's stock valued at $4,150,000 after purchasing an additional 3,852 shares during the period. Van ECK Associates Corp increased its position in shares of L3Harris Technologies by 1,015.9% during the fourth quarter. Van ECK Associates Corp now owns 13,224 shares of the company's stock worth $2,781,000 after acquiring an additional 12,039 shares during the last quarter. Adell Harriman & Carpenter Inc. increased its holdings in L3Harris Technologies by 131.7% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 7,755 shares of the company's stock worth $1,631,000 after purchasing an additional 4,408 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in L3Harris Technologies by 21.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock valued at $1,488,000 after acquiring an additional 1,236 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in L3Harris Technologies by 6.7% in the fourth quarter. Principal Securities Inc. now owns 882 shares of the company's stock valued at $185,000 after buying an additional 55 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Truist Financial dropped their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. UBS Group upped their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their target price for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $258.75.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded down $9.47 during midday trading on Monday, reaching $247.52. The company had a trading volume of 1,824,553 shares, compared to its average volume of 1,128,213. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a market capitalization of $46.27 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The stock has a fifty day simple moving average of $227.95 and a 200 day simple moving average of $218.08.

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

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.94%. L3Harris Technologies's payout ratio is 56.94%.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider now directly owns 25,325 shares of the company's stock, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.72% of the company's stock.

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.