Cullen Frost Bankers Inc. Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Cullen Frost Bankers Inc. lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,898 shares of the company’s stock after acquiring an additional 945 shares during the period. Cullen Frost Bankers Inc.’s holdings in L3Harris Technologies were worth $14,511,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LHX. Strong Tower Advisory Services increased its position in L3Harris Technologies by 0.9% during the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after buying an additional 49 shares in the last quarter. Blossom Wealth Management grew its position in L3Harris Technologies by 2.1% during the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after purchasing an additional 51 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in L3Harris Technologies by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after purchasing an additional 58 shares in the last quarter. Cassaday & Co Wealth Management LLC raised its holdings in L3Harris Technologies by 3.8% in the third quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock worth $282,000 after buying an additional 59 shares during the last quarter. Finally, Twin Lakes Capital Management LLC grew its holdings in shares of L3Harris Technologies by 0.4% during the third quarter. Twin Lakes Capital Management LLC now owns 14,695 shares of the company’s stock valued at $2,559,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LHX. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research report on Monday, April 22nd. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Barclays upped their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Raymond James increased their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $231.80.

L3Harris Technologies Price Performance

NYSE:LHX traded down $0.03 on Wednesday, reaching $215.88. 994,020 shares of the company’s stock traded hands, compared to its average volume of 1,114,664. The stock has a 50-day simple moving average of $210.32 and a 200-day simple moving average of $203.41. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The firm has a market cap of $40.95 billion, a PE ratio of 35.05, a P/E/G ratio of 1.88 and a beta of 0.63. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the previous year, the firm earned $2.86 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. Equities research analysts forecast that L3Harris Technologies, Inc. will post 12.91 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.15%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 3,363 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $212.86, for a total value of $715,848.18. Following the completion of the transaction, the senior vice president now owns 55,254 shares of the company’s stock, valued at approximately $11,761,366.44. The disclosure for this sale can be found here. Insiders have sold a total of 48,362 shares of company stock valued at $10,261,360 in the last quarter. 0.87% of the stock is currently owned by insiders.

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.