Y Intercept Hong Kong Ltd Purchases New Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Y Intercept Hong Kong Ltd bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,012 shares of the company's stock, valued at approximately $2,619,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MML Investors Services LLC raised its holdings in L3Harris Technologies by 8.5% in the 3rd quarter. MML Investors Services LLC now owns 41,163 shares of the company's stock valued at $9,791,000 after buying an additional 3,238 shares during the period. Headinvest LLC acquired a new position in shares of L3Harris Technologies in the 3rd quarter worth approximately $201,000. Orion Portfolio Solutions LLC boosted its position in shares of L3Harris Technologies by 1.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,094 shares of the company's stock worth $2,639,000 after purchasing an additional 155 shares during the period. Zacks Investment Management increased its holdings in L3Harris Technologies by 17.8% in the 3rd quarter. Zacks Investment Management now owns 184,956 shares of the company's stock valued at $43,995,000 after purchasing an additional 27,990 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its position in L3Harris Technologies by 543.5% in the third quarter. EP Wealth Advisors LLC now owns 17,278 shares of the company's stock valued at $4,110,000 after purchasing an additional 14,593 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies 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 transaction, the insider now directly owns 10,340 shares of the company's stock, valued at $2,563,596.20. The trade was a 22.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.82% of the company's stock.

L3Harris Technologies Stock Up 0.3 %

Shares of LHX traded up $0.75 during mid-day trading on Tuesday, reaching $230.51. The company's stock had a trading volume of 911,800 shares, compared to its average volume of 909,993. The company's 50 day moving average is $246.53 and its 200 day moving average is $234.82. The stock has a market cap of $43.72 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72. L3Harris Technologies, Inc. has a 12-month low of $196.42 and a 12-month high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

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

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Monday, November 18th. L3Harris Technologies's payout ratio is 73.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a research note on Monday, October 28th. StockNews.com upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Citigroup boosted their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Bank of America raised shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Finally, Argus upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $269.67.

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.