L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Magnetar Financial LLC

Magnetar Financial LLC grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 21.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,211 shares of the company's stock after purchasing an additional 5,187 shares during the quarter. Magnetar Financial LLC's holdings in L3Harris Technologies were worth $6,142,000 as of its most recent filing with the Securities and Exchange Commission.

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

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L3Harris Technologies Price Performance

Shares of NYSE LHX traded up $2.90 during trading on Monday, hitting $210.88. 861,549 shares of the company were exchanged, compared to its average volume of 921,613. The firm's fifty day moving average price is $209.74 and its 200 day moving average price is $225.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market cap of $39.59 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share 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%. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.28%. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies's payout ratio is presently 60.99%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company's stock, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the firm's 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 transaction, the insider now directly owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,334 shares of company stock worth $1,383,709. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LHX. Argus raised L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective for the company in a report on Tuesday, November 26th. JPMorgan Chase & Co. lowered their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Susquehanna reduced their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and lowered their price target for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their price objective on L3Harris Technologies from $269.00 to $268.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $261.40.

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.