54,729 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 54,729 shares of the company's stock, valued at approximately $11,508,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortem Financial Group LLC purchased a new stake in shares of L3Harris Technologies during the third quarter worth about $841,000. Czech National Bank increased its position in shares of L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company's stock worth $8,648,000 after acquiring an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock worth $184,245,000 after acquiring an additional 178,407 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock worth $52,395,000 after acquiring an additional 4,321 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its position in shares of L3Harris Technologies by 13.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock worth $7,602,000 after acquiring an additional 3,740 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

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L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded up $2.25 during trading hours on Thursday, hitting $216.60. The stock had a trading volume of 493,245 shares, compared to its average volume of 982,872. The stock's fifty day simple moving average is $207.38 and its 200 day simple moving average is $223.92. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The firm has a market capitalization of $40.66 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Monday, March 10th. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.16. L3Harris Technologies's dividend payout ratio (DPR) is currently 60.99%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LHX. Susquehanna reduced their price objective on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Barclays reduced their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Raymond James lowered shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and cut their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $259.06.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

About L3Harris Technologies

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.