Trexquant Investment LP Purchases New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Trexquant Investment LP bought a new position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 101,193 shares of the company's stock, valued at approximately $21,279,000. Trexquant Investment LP owned 0.05% of L3Harris Technologies as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LHX. Measured Wealth Private Client Group LLC lifted its position in L3Harris Technologies by 5.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock valued at $200,000 after purchasing an additional 50 shares during the period. Premier Path Wealth Partners LLC raised its stake in shares of L3Harris Technologies by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company's stock worth $328,000 after buying an additional 51 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of L3Harris Technologies by 2.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock valued at $514,000 after buying an additional 53 shares during the period. Klingman & Associates LLC grew its holdings in L3Harris Technologies by 2.8% during the fourth quarter. Klingman & Associates LLC now owns 1,933 shares of the company's stock worth $406,000 after acquiring an additional 53 shares during the period. Finally, Zullo Investment Group Inc. grew its holdings in L3Harris Technologies by 3.2% during the fourth quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company's stock worth $361,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

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Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the business'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 value of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the 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 in the company, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

LHX stock traded down $7.92 during trading on Friday, hitting $202.03. The stock had a trading volume of 3,081,641 shares, compared to its average volume of 964,244. The stock has a market cap of $37.92 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company's 50 day moving average price is $208.20 and its two-hundred day moving average price is $224.79. 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 quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts' consensus estimates 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 forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $1.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.38%. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. L3Harris Technologies's payout ratio is currently 60.99%.

Analysts Set New Price Targets

LHX has been the topic of a number of recent analyst reports. Bank of America lowered their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Susquehanna reduced their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Barclays lowered their price target on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $260.69.

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.