Gilbert & Cook Inc. Has $1.96 Million Position in L3Harris Technologies Inc $LHX

Gilbert & Cook Inc. grew its stake in L3Harris Technologies Inc (NYSE:LHX) by 210.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,683 shares of the company’s stock after buying an additional 4,532 shares during the period. Gilbert & Cook Inc.’s holdings in L3Harris Technologies were worth $1,962,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Sagespring Wealth Partners LLC lifted its stake in shares of L3Harris Technologies by 1.3% in the fourth quarter. Sagespring Wealth Partners LLC now owns 3,692 shares of the company’s stock worth $1,084,000 after acquiring an additional 49 shares during the period. Everhart Financial Group Inc. increased its position in L3Harris Technologies by 10.6% during the 4th quarter. Everhart Financial Group Inc. now owns 832 shares of the company’s stock valued at $244,000 after purchasing an additional 80 shares during the period. Clark Financial Services Group Inc. BD raised its holdings in L3Harris Technologies by 1.9% during the 4th quarter. Clark Financial Services Group Inc. BD now owns 1,909 shares of the company’s stock worth $594,000 after purchasing an additional 36 shares during the last quarter. Doliver Advisors LP raised its holdings in L3Harris Technologies by 7.0% during the 4th quarter. Doliver Advisors LP now owns 6,060 shares of the company’s stock worth $1,779,000 after purchasing an additional 397 shares during the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $35,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $353.20 on Friday. The company has a market capitalization of $65.97 billion, a PE ratio of 41.41, a PEG ratio of 2.62 and a beta of 0.63. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $353.58 and its 200-day moving average price is $311.64. L3Harris Technologies Inc has a twelve month low of $195.72 and a twelve month high of $379.23.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period last year, the company posted $3.47 earnings per share. L3Harris Technologies’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate 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 paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is presently 58.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Morgan Stanley boosted their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. JPMorgan Chase & Co. upped their price target on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Wall Street Zen downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Weiss Ratings raised L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. One 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 company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $328.57.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 5,528 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the transaction, the insider directly owned 7,660 shares of the company’s stock, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samir Mehta sold 5,528 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 transaction of $2,047,128.96. Following the transaction, the insider owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. The trade was a 41.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,025 shares of company stock worth $6,824,370 in the last ninety days. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Company 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.