Dark Forest Capital Management LP Acquires 5,213 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Dark Forest Capital Management LP grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 279.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,077 shares of the company's stock after purchasing an additional 5,213 shares during the period. Dark Forest Capital Management LP's holdings in L3Harris Technologies were worth $1,488,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its position in L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after acquiring an additional 82 shares during the period. Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $27,000. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after buying an additional 111 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

NYSE:LHX traded up $0.10 on Friday, hitting $216.37. The stock had a trading volume of 1,637,041 shares, compared to its average volume of 1,018,026. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The stock has a market cap of $40.62 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business's 50-day simple moving average is $210.58 and its two-hundred day simple moving average is $222.24.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.55 by ($0.14). L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. As a group, research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.22%. L3Harris Technologies's dividend payout ratio (DPR) is 60.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LHX shares. Barclays lowered their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and upped their price target for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Susquehanna reduced their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Finally, Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. 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 presently has a consensus rating of "Moderate Buy" and an average target price of $257.25.

Insider Transactions at L3Harris Technologies

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

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.