Cribstone Capital Management LLC Makes New $35,000 Investment in L3Harris (NYSE:LHX)

Cribstone Capital Management LLC purchased a new position in shares of L3Harris (NYSE:LHX) in the 3rd quarter, HoldingsChannel reports. The firm purchased 168 shares of the company’s stock, valued at approximately $35,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC acquired a new stake in L3Harris in the 2nd quarter valued at $25,000. Squar Milner Financial Services LLC raised its stake in shares of L3Harris by 500.0% during the 3rd quarter. Squar Milner Financial Services LLC now owns 120 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Sonora Investment Management LLC bought a new stake in shares of L3Harris during the 3rd quarter worth $26,000. Wealthcare Capital Management LLC bought a new stake in shares of L3Harris during the 3rd quarter worth $26,000. Finally, D Orazio & Associates Inc. bought a new stake in shares of L3Harris during the 3rd quarter worth $27,000. Hedge funds and other institutional investors own 81.36% of the company’s stock.

In other L3Harris news, Director Thomas A. Dattilo acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $209.19 per share, with a total value of $209,190.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $418,380. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dana A. Mehnert sold 73,150 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $209.42, for a total value of $15,319,073.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 496,202 shares of company stock worth $104,869,110. Company insiders own 1.70% of the company’s stock.

Shares of LHX opened at $200.50 on Thursday. The firm’s 50-day moving average is $201.61. L3Harris has a twelve month low of $123.24 and a twelve month high of $217.31. The company has a market capitalization of $43.44 billion, a PE ratio of 24.19, a PEG ratio of 2.46 and a beta of 0.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 1.49.

L3Harris (NYSE:LHX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $2.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.39 by $0.19. L3Harris had a return on equity of 16.42% and a net margin of 12.02%. The firm had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.43 billion. The firm’s quarterly revenue was up 187.4% on a year-over-year basis. Equities analysts expect that L3Harris will post 9.99 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Thursday, November 21st. L3Harris’s dividend payout ratio is presently 36.19%.

A number of equities research analysts recently issued reports on the company. UBS Group set a $225.00 price objective on L3Harris and gave the company a “hold” rating in a research note on Friday, November 1st. ValuEngine cut L3Harris from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Barclays restated a “buy” rating and issued a $270.00 price objective on shares of L3Harris in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on L3Harris from $210.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, SunTrust Banks boosted their price objective on L3Harris to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $235.82.

L3Harris Company Profile

L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.

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Institutional Ownership by Quarter for L3Harris (NYSE:LHX)

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