Two Sigma Advisers LP Raises Position in L3Harris Technologies, Inc. (NYSE:LHX)

Two Sigma Advisers LP boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 61.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 135,600 shares of the company's stock after buying an additional 51,400 shares during the period. Two Sigma Advisers LP owned 0.07% of L3Harris Technologies worth $32,255,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of LHX. Meeder Asset Management Inc. grew its position in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company's stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp grew its position in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies during the third quarter valued at about $36,000. Family Firm Inc. purchased a new position in L3Harris Technologies in the second quarter worth about $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in L3Harris Technologies in the second quarter worth about $57,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Down 1.5 %

Shares of LHX stock traded down $3.50 during trading hours on Friday, reaching $234.64. 1,470,153 shares of the company's stock were exchanged, compared to its average volume of 824,430. The stock's 50 day moving average is $246.69 and its 200-day moving average is $234.70. The company has a market cap of $44.50 billion, a price-to-earnings ratio of 37.07, a P/E/G ratio of 2.01 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a fifty-two week low of $193.34 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the firm posted $3.19 earnings per share. The business's quarterly revenue was up 7.7% on a year-over-year basis. Analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.98%. The ex-dividend date was Monday, November 18th. L3Harris Technologies's payout ratio is 73.30%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, the insider now directly owns 10,340 shares of the company's stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LHX. Bank of America upgraded L3Harris Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Citigroup lifted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a "sector perform" rating in a research note on Monday, October 28th. StockNews.com raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Finally, Wolfe Research raised shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 price objective for the company in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $269.67.

L3Harris Technologies 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.