Cullen Frost Bankers Inc. Has $14.19 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Cullen Frost Bankers Inc. increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,497 shares of the company’s stock after buying an additional 378 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in L3Harris Technologies were worth $14,193,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in L3Harris Technologies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after buying an additional 59,008 shares during the period. Massachusetts Financial Services Co. MA raised its stake in L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after buying an additional 85,882 shares during the period. Charles Schwab Investment Management Inc. raised its stake in L3Harris Technologies by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after buying an additional 32,979 shares during the period. Mizuho Markets Americas LLC raised its stake in L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after buying an additional 166,262 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares in the company, 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 SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 4,901 shares of company stock worth $1,059,757. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $210.84 on Thursday. The stock has a market capitalization of $39.70 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.42 and a beta of 0.74. The business has a 50-day moving average of $208.77 and a 200-day moving average of $227.82. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a yield of 2.28%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

Wall Street Analyst Weigh In

LHX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Citigroup dropped their price target on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Morgan Stanley dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. UBS Group lifted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $261.47.

L3Harris Technologies Company 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.