Quantbot Technologies LP raised its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 314.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,073 shares of the company's stock after buying an additional 30,413 shares during the period. Quantbot Technologies LP's holdings in L3Harris Technologies were worth $8,427,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC increased its holdings in L3Harris Technologies by 0.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock valued at $1,883,000 after buying an additional 40 shares in the last quarter. Archer Investment Corp increased its holdings in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after buying an additional 43 shares in the last quarter. Sigma Planning Corp increased its holdings in L3Harris Technologies by 1.9% in the third quarter. Sigma Planning Corp now owns 2,613 shares of the company's stock valued at $622,000 after buying an additional 49 shares in the last quarter. Measured Wealth Private Client Group LLC increased its stake in shares of L3Harris Technologies by 5.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock worth $200,000 after purchasing an additional 50 shares in the last quarter. Finally, Avestar Capital LLC increased its stake in shares of L3Harris Technologies by 4.2% during the 3rd quarter. Avestar Capital LLC now owns 1,255 shares of the company's stock worth $299,000 after purchasing an additional 51 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the business's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction 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 $6,475,517.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,098 shares of company stock valued at $1,760,588. Company insiders own 0.82% of the company's stock.
L3Harris Technologies Trading Down 0.2 %
Shares of NYSE LHX traded down $0.52 during trading on Tuesday, hitting $212.46. 973,928 shares of the company traded hands, compared to its average volume of 924,415. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a 50-day moving average price of $209.44 and a 200-day moving average price of $226.84. The firm has a market capitalization of $39.88 billion, a P/E ratio of 27.00, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.
L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating 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, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.
L3Harris Technologies Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.26%. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies's dividend payout ratio is 60.99%.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Citigroup dropped their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Raymond James cut shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. Susquehanna dropped 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. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $261.40.
Read Our Latest Stock Report on LHX
About L3Harris Technologies
(
Free Report)
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.
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