L3Harris Technologies Inc $LHX Shares Purchased by Crystal Rock Capital Management

Crystal Rock Capital Management boosted its position in L3Harris Technologies Inc (NYSE:LHX) by 29.9% during the 4th quarter, Holdings Channel reports. The fund owned 8,475 shares of the company’s stock after acquiring an additional 1,950 shares during the quarter. L3Harris Technologies makes up 1.3% of Crystal Rock Capital Management’s portfolio, making the stock its 25th biggest holding. Crystal Rock Capital Management’s holdings in L3Harris Technologies were worth $2,488,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Burns J W & Co. Inc. NY raised its holdings in L3Harris Technologies by 3.1% in the fourth quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company’s stock valued at $290,000 after acquiring an additional 30 shares in the last quarter. American National Bank & Trust raised its holdings in L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after acquiring an additional 30 shares in the last quarter. Rainier Family Wealth Inc. raised its holdings in L3Harris Technologies by 4.8% in the fourth quarter. Rainier Family Wealth Inc. now owns 700 shares of the company’s stock valued at $205,000 after acquiring an additional 32 shares in the last quarter. San Luis Wealth Advisors LLC raised its holdings in L3Harris Technologies by 5.1% in the fourth quarter. San Luis Wealth Advisors LLC now owns 705 shares of the company’s stock valued at $207,000 after acquiring an additional 34 shares in the last quarter. Finally, Wealth Quarterback LLC raised its holdings in L3Harris Technologies by 1.8% in the fourth quarter. Wealth Quarterback LLC now owns 2,011 shares of the company’s stock valued at $590,000 after acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on LHX shares. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a report on Wednesday, January 14th. UBS Group upped their price target on L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Morgan Stanley upped their price target on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $349.55.

Insider Activity

In other news, VP Melanie Rakita sold 2,378 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total value of $811,968.10. Following the completion of the transaction, the vice president owned 4,882 shares in the company, valued at approximately $1,666,958.90. This represents a 32.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Samir Mehta sold 5,528 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the transaction, the insider owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. The trade was a 41.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 19,025 shares of company stock worth $6,824,370. Corporate insiders own 0.68% of the company’s stock.

L3Harris Technologies Trading Down 1.0%

Shares of L3Harris Technologies stock opened at $349.76 on Friday. The company has a fifty day simple moving average of $355.54 and a 200-day simple moving average of $321.58. L3Harris Technologies Inc has a 12-month low of $208.11 and a 12-month high of $379.23. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $65.33 billion, a price-to-earnings ratio of 41.00, a PEG ratio of 1.79 and a beta of 0.62.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the prior year, the business posted $3.47 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is currently 58.62%.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.