Cinctive Capital Management LP Buys 1,288 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Cinctive Capital Management LP lifted its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 25.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,415 shares of the company's stock after purchasing an additional 1,288 shares during the quarter. Cinctive Capital Management LP's holdings in L3Harris Technologies were worth $1,349,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of LHX. Huntington National Bank grew its position in L3Harris Technologies by 0.8% during the fourth quarter. Huntington National Bank now owns 12,018 shares of the company's stock valued at $2,527,000 after acquiring an additional 95 shares during the last quarter. Kesler Norman & Wride LLC raised its position in L3Harris Technologies by 4.2% in the 4th quarter. Kesler Norman & Wride LLC now owns 28,397 shares of the company's stock worth $5,972,000 after purchasing an additional 1,143 shares during the period. Potomac Fund Management Inc. ADV bought a new stake in L3Harris Technologies in the fourth quarter worth $1,441,000. Trexquant Investment LP purchased a new stake in L3Harris Technologies during the fourth quarter valued at about $21,279,000. Finally, Headlands Technologies LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at about $4,657,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Up 7.0 %

LHX traded up $14.02 during trading on Wednesday, reaching $214.77. The stock had a trading volume of 3,826,677 shares, compared to its average volume of 984,343. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $40.32 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 2.42 and a beta of 0.71. The stock's 50 day moving average is $207.38 and its two-hundred day moving average is $223.92. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74.

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L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $1.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.23%. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. L3Harris Technologies's dividend payout ratio is presently 60.99%.

Insider Activity at L3Harris Technologies

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

Wall Street Analyst Weigh In

LHX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. Susquehanna dropped their price objective on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company 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 price target 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 company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $259.06.

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.