Caprock Group LLC Makes New $1.48 Million Investment in L3Harris Technologies Inc $LHX

Caprock Group LLC bought a new stake in L3Harris Technologies Inc (NYSE:LHX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,829 shares of the company’s stock, valued at approximately $1,475,000.

A number of other hedge funds have also recently modified their holdings of LHX. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of L3Harris Technologies during the second quarter worth about $34,000. Salomon & Ludwin LLC purchased a new position in L3Harris Technologies during the 3rd quarter worth approximately $34,000. Rakuten Securities Inc. increased its position in L3Harris Technologies by 234.8% during the second quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after buying an additional 108 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new stake in L3Harris Technologies in the third quarter valued at approximately $42,000. Finally, Copia Wealth Management boosted its holdings in shares of L3Harris Technologies by 1,842.9% in the third quarter. Copia Wealth Management now owns 136 shares of the company’s stock valued at $42,000 after acquiring an additional 129 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $345.07 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $321.69 and a 200-day simple moving average of $296.95. The company has a market cap of $64.55 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $369.59.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.47 earnings per share. On average, equities analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 58.62%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LHX. Vertical Research reaffirmed a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a report on Tuesday, January 13th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Wall Street Zen downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, UBS Group raised their price target on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $328.57.

Insider Buying and Selling

In other news, insider Samir Mehta sold 4,840 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the completion of the sale, the insider directly owned 5,916 shares in the company, valued at approximately $2,004,636.60. This trade represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies 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.