NorthCrest Asset Manangement LLC Has $20.58 Million Position in L3Harris Technologies Inc $LHX

NorthCrest Asset Manangement LLC raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.8% during the 4th quarter, HoldingsChannel reports. The firm owned 66,093 shares of the company’s stock after purchasing an additional 1,794 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in L3Harris Technologies were worth $20,580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of LHX. Grove Bank & Trust boosted its holdings in shares of L3Harris Technologies by 21.7% during the 4th quarter. Grove Bank & Trust now owns 588 shares of the company’s stock worth $173,000 after buying an additional 105 shares during the period. Gryphon Financial Partners LLC raised its holdings in L3Harris Technologies by 10.8% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,839 shares of the company’s stock worth $540,000 after acquiring an additional 179 shares during the period. Wedmont Private Capital lifted its position in L3Harris Technologies by 3.5% during the 4th quarter. Wedmont Private Capital now owns 1,527 shares of the company’s stock worth $473,000 after acquiring an additional 51 shares during the last quarter. Procyon Advisors LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at about $258,000. Finally, Crescent Sterling Ltd. boosted its holdings in L3Harris Technologies by 17.9% during the fourth quarter. Crescent Sterling Ltd. now owns 1,724 shares of the company’s stock valued at $506,000 after acquiring an additional 262 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $353.20 on Friday. The firm has a market capitalization of $65.97 billion, a price-to-earnings ratio of 41.41, a PEG ratio of 2.55 and a beta of 0.63. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $379.23. The business has a fifty day simple moving average of $353.58 and a 200 day simple moving average of $311.90. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

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

L3Harris Technologies Increases Dividend

The firm also recently announced 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 an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date was Friday, March 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 58.62%.

Analyst Ratings Changes

A number of research firms have recently commented on LHX. Vertical Research reiterated a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Morgan Stanley increased their target price on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. JPMorgan Chase & Co. raised their target price on L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Wall Street Zen downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $328.57.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 751 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 value of $278,110.32. Following the completion of the transaction, the vice president owned 4,131 shares of the company’s stock, valued at $1,529,791.92. This represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider owned 7,660 shares of the company’s stock, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,025 shares of company stock valued at $6,824,370 over the last quarter. 0.72% of the stock is owned by company insiders.

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.