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

Cullen Frost Bankers Inc. increased its holdings in shares of L3Harris (NYSE:LHX) by 1,866.3% during the fourth quarter, according to its most recent disclosure 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 quarter. Cullen Frost Bankers Inc.’s holdings in L3Harris were worth $1,949,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Squar Milner Financial Services LLC raised its stake in shares of L3Harris by 500.0% in the 3rd quarter. Squar Milner Financial Services LLC now owns 120 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Aigen Investment Management LP purchased a new stake in shares of L3Harris in the 4th quarter valued at approximately $25,000. Corbenic Partners LLC purchased a new stake in shares of L3Harris in the 4th quarter valued at approximately $26,000. D Orazio & Associates Inc. purchased a new stake in shares of L3Harris in the 3rd quarter valued at approximately $27,000. Finally, Trustcore Financial Services LLC purchased a new stake in shares of L3Harris in the 3rd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 82.74% of the company’s stock.

In other L3Harris news, CEO William M. Brown sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $228.63, for a total transaction of $14,860,950.00. Following the completion of the transaction, the chief executive officer now owns 432,443 shares in the company, valued at approximately $98,869,443.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott T. Mikuen sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $210.51, for a total transaction of $3,157,650.00. The disclosure for this sale can be found here. Insiders have sold a total of 120,530 shares of company stock valued at $27,148,116 in the last quarter. 1.70% of the stock is currently owned by company insiders.

NYSE LHX opened at $228.55 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.49 and a debt-to-equity ratio of 0.31. L3Harris has a 52 week low of $156.90 and a 52 week high of $230.99. The stock has a market capitalization of $50.18 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 2.44 and a beta of 0.82. The firm has a 50 day moving average of $216.58 and a two-hundred day moving average of $207.69.

L3Harris (NYSE:LHX) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $2.85 EPS for the quarter, topping the 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 company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the business posted $1.96 EPS. The firm’s revenue was up 190.0% on a year-over-year basis. On average, equities research analysts expect that L3Harris will post 11.61 earnings per share for the current fiscal year.

A number of research firms have recently issued reports on LHX. Cowen reissued a “buy” rating and issued a $240.00 price target on shares of L3Harris in a research note on Wednesday. Robert W. Baird upped their target price on shares of L3Harris from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Cfra upped their target price 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. Zacks Investment Research raised shares of L3Harris from a “hold” rating to a “buy” rating and set a $219.00 target price on the stock in a research note on Friday, November 1st. Finally, Sanford C. Bernstein initiated coverage on shares of L3Harris in a research note on Tuesday, December 10th. They set an “outperform” rating and a $247.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target 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.

Further Reading: Why are gap-down stocks important?

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris (NYSE:LHX).

Institutional Ownership by Quarter for L3Harris (NYSE:LHX)

Receive News & Ratings for L3Harris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris and related companies with MarketBeat.com's FREE daily email newsletter.