Crestwood Advisors Group LLC Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

Crestwood Advisors Group LLC raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,659 shares of the company’s stock after purchasing an additional 73 shares during the period. Crestwood Advisors Group LLC’s holdings in L3Harris Technologies were worth $395,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Sentry Investment Management LLC grew its stake in shares of L3Harris Technologies by 3.3% during the 3rd quarter. Sentry Investment Management LLC now owns 2,854 shares of the company’s stock valued at $679,000 after acquiring an additional 91 shares during the period. Cary Street Partners Asset Management LLC boosted its position in shares of L3Harris Technologies by 4.1% in the third quarter. Cary Street Partners Asset Management LLC now owns 1,462 shares of the company’s stock worth $348,000 after purchasing an additional 58 shares during the period. Martin Investment Management LLC boosted its position in shares of L3Harris Technologies by 4.3% in the third quarter. Martin Investment Management LLC now owns 32,863 shares of the company’s stock worth $7,817,000 after purchasing an additional 1,351 shares during the period. Moloney Securities Asset Management LLC raised its position in shares of L3Harris Technologies by 5.3% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,005 shares of the company’s stock valued at $715,000 after purchasing an additional 150 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in shares of L3Harris Technologies by 19.4% during the 3rd quarter. QRG Capital Management Inc. now owns 3,001 shares of the company’s stock valued at $714,000 after buying an additional 487 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LHX shares. Wells Fargo & Company increased their price target on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Citigroup upped their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays lifted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Price Performance

NYSE:LHX opened at $256.45 on Thursday. The firm has a market capitalization of $48.64 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 2.06 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The business has a 50 day simple moving average of $239.97 and a 200-day simple moving average of $229.89. L3Harris Technologies, Inc. has a 1 year low of $179.56 and a 1 year high of $260.00.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. L3Harris Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 8,964 shares of company stock valued at $2,179,119 over the last 90 days. Insiders own 0.87% of the company’s stock.

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.