Cullen Investment Group LTD. Has $1.67 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Cullen Investment Group LTD. increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,932 shares of the company’s stock after acquiring an additional 136 shares during the period. Cullen Investment Group LTD.’s holdings in L3Harris Technologies were worth $1,668,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in L3Harris Technologies in the 2nd quarter valued at about $57,000. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 86 shares during the period. Wealthspire Advisors LLC increased its stake in shares of L3Harris Technologies by 11.6% during the second quarter. Wealthspire Advisors LLC now owns 1,621 shares of the company’s stock valued at $364,000 after buying an additional 169 shares during the period. Oppenheimer Asset Management Inc. boosted its position in L3Harris Technologies by 6.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,705 shares of the company’s stock valued at $1,057,000 after acquiring an additional 268 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of L3Harris Technologies by 236.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after acquiring an additional 695,582 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

NYSE:LHX opened at $213.85 on Tuesday. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The stock has a 50 day moving average price of $230.43 and a 200 day moving average price of $233.30. The stock has a market cap of $40.56 billion, a PE ratio of 33.78, a P/E/G ratio of 1.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.19 EPS. Equities research analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.17%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 7,889 shares of company stock valued at $1,800,572. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on LHX. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada increased their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Truist Financial boosted their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a report on Thursday, October 10th. Finally, Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.31.

About L3Harris Technologies

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.