Cullen Investment Group LTD. Purchases 374 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Cullen Investment Group LTD. boosted its position in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 5.3% during the first quarter, Holdings Channel.com reports. The fund owned 7,449 shares of the company’s stock after acquiring an additional 374 shares during the quarter. Cullen Investment Group LTD.’s holdings in L3Harris Technologies were worth $1,529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LHX. Capital World Investors raised its position in shares of L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after buying an additional 3,308,506 shares during the last quarter. Vanguard Group Inc. raised its position in shares of L3Harris Technologies by 15.4% during the fourth quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock valued at $4,251,683,000 after buying an additional 2,692,771 shares during the last quarter. Mizuho Markets Americas LLC raised its position in shares of L3Harris Technologies by 990.3% during the fourth quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock valued at $464,349,000 after buying an additional 2,002,475 shares during the last quarter. Norges Bank bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $325,147,000. Finally, Wellington Management Group LLP raised its position in shares of L3Harris Technologies by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after buying an additional 1,138,549 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Barclays boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research report on Monday, April 22nd. Finally, Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.80.

Read Our Latest Analysis on LHX

L3Harris Technologies Stock Up 0.8 %

Shares of LHX opened at $222.44 on Wednesday. The firm has a market capitalization of $42.19 billion, a P/E ratio of 36.11, a P/E/G ratio of 1.85 and a beta of 0.71. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $226.99. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average price of $216.28 and a 200-day moving average price of $211.46.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.86 earnings per share. Equities research analysts expect that L3Harris Technologies, Inc. will post 12.89 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the transaction, the vice president now owns 17,540 shares of the company’s stock, valued at $3,823,720. The disclosure for this sale can be found here. Insiders sold a total of 122,898 shares of company stock valued at $27,046,967 over the last three months. 0.87% of the stock is owned by company insiders.

L3Harris Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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