Cullen Investment Group LTD. Buys 284 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Cullen Investment Group LTD. boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,796 shares of the company’s stock after buying an additional 284 shares during the quarter. Cullen Investment Group LTD.’s holdings in L3Harris Technologies were worth $1,855,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of L3Harris Technologies by 15.4% during the 4th 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 in the last quarter. Wellington Management Group LLP lifted its holdings in 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 purchasing an additional 1,138,549 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in L3Harris Technologies during the second quarter valued at approximately $210,886,000. Envestnet Asset Management Inc. increased its stake in shares of L3Harris Technologies by 236.8% in the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after purchasing an additional 695,582 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of L3Harris Technologies by 296.8% during the 4th quarter. Point72 Asset Management L.P. now owns 725,228 shares of the company’s stock valued at $152,748,000 after purchasing an additional 542,453 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.2 %

LHX traded up $0.55 during trading on Friday, reaching $243.66. The company had a trading volume of 372,741 shares, compared to its average volume of 933,624. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The business has a 50 day simple moving average of $231.62 and a 200-day simple moving average of $223.50. The stock has a market cap of $46.22 billion, a P/E ratio of 39.56, a PEG ratio of 2.04 and a beta of 0.73. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $247.33.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.06. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business earned $2.97 EPS. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 1.90%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares in the company, valued at $10,951,680. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,390 shares of company stock valued at $7,592,959. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Susquehanna upped their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Finally, Barclays boosted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $246.54.

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.