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

Crystal Rock Capital Management increased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 29.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 about 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 reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitlin John LLC acquired a new position in shares of L3Harris Technologies during the 3rd quarter valued at about $28,000. JPL Wealth Management LLC purchased a new stake in L3Harris Technologies in the 3rd quarter valued at about $29,000. American National Bank & Trust lifted its position 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 buying an additional 30 shares during the last quarter. Triumph Capital Management acquired a new position in L3Harris Technologies in the third quarter valued at about $31,000. Finally, GGM Financials LLC acquired a new position in L3Harris Technologies in the third quarter valued at about $32,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Royal Bank Of Canada upped their target price on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, Citigroup upped their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $349.55.

Insider Transactions at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the stock in a transaction dated 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 sale, the insider owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Melanie Rakita sold 751 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $278,110.32. Following the sale, the vice president directly owned 4,131 shares in the company, valued at $1,529,791.92. This represents a 15.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 19,025 shares of company stock valued at $6,824,370. 0.68% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Down 1.0%

Shares of LHX opened at $349.76 on Friday. The stock has a market capitalization of $65.33 billion, a PE ratio of 41.00, a P/E/G ratio of 1.79 and a beta of 0.62. L3Harris Technologies Inc has a 1 year low of $208.11 and a 1 year high of $379.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The company’s 50-day simple moving average is $355.54 and its 200-day simple moving average is $321.58.

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

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were given a dividend of $1.25 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, March 6th. L3Harris Technologies’s dividend payout ratio is currently 58.62%.

L3Harris Technologies Profile

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.