L3Harris (NYSE:LHX) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. boosted its holdings in L3Harris (NYSE:LHX) by 1,866.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,851 shares of the company’s stock after acquiring an additional 9,350 shares during the period. Cullen Frost Bankers Inc.’s holdings in L3Harris were worth $1,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of LHX. State Street Corp acquired a new stake in L3Harris in the 3rd quarter valued at about $1,949,311,000. Massachusetts Financial Services Co. MA acquired a new stake in L3Harris in the 3rd quarter valued at about $446,171,000. California Public Employees Retirement System acquired a new stake in L3Harris in the 3rd quarter valued at about $371,059,000. Millennium Management LLC acquired a new stake in L3Harris in the 3rd quarter valued at about $287,551,000. Finally, Boston Partners acquired a new stake in L3Harris in the 3rd quarter valued at about $274,375,000. 82.74% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Scott T. Mikuen sold 16,820 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $220.00, for a total value of $3,700,400.00. Following the sale, the senior vice president now directly owns 81,527 shares of the company’s stock, valued at $17,935,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 23,710 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $228.98, for a total transaction of $5,429,115.80. Following the completion of the transaction, the insider now owns 26,568 shares in the company, valued at approximately $6,083,540.64. The disclosure for this sale can be found here. Insiders sold 120,530 shares of company stock worth $27,148,116 over the last three months. Corporate insiders own 1.70% of the company’s stock.

LHX opened at $228.55 on Friday. The company’s 50 day simple moving average is $216.58 and its 200 day simple moving average is $207.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 1.49. L3Harris has a 1 year low of $156.90 and a 1 year high of $230.99. The stock has a market capitalization of $50.18 billion, a PE ratio of 22.75, a P/E/G ratio of 2.44 and a beta of 0.82.

L3Harris (NYSE:LHX) last released its earnings results on Tuesday, February 4th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.07. L3Harris had a net margin of 10.37% and a return on equity of 17.71%. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the company earned $1.96 earnings per share. The company’s quarterly revenue was up 190.0% on a year-over-year basis. As a group, sell-side analysts expect that L3Harris will post 11.61 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on the stock. UBS Group raised their price target on shares of L3Harris from $225.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. ValuEngine raised shares of L3Harris from a “strong sell” rating to a “sell” rating in a research note on Friday, December 13th. Raymond James raised their price target on shares of L3Harris from $219.00 to $239.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Sanford C. Bernstein assumed coverage on shares of L3Harris in a research note on Tuesday, December 10th. They set an “outperform” rating and a $247.00 price target on the stock. Finally, Cfra raised their price target on shares of L3Harris from $235.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $245.83.

L3Harris Profile

L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.

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Institutional Ownership by Quarter for L3Harris (NYSE:LHX)

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