5,127 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,127 shares of the company’s stock, valued at approximately $1,220,000.

A number of other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its position in shares of L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Kennebec Savings Bank bought a new stake in L3Harris Technologies during the 3rd quarter worth about $36,000. Family Firm Inc. acquired a new position in shares of L3Harris Technologies during the 2nd quarter worth about $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies in the 2nd quarter valued at about $57,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $239.86 on Wednesday. L3Harris Technologies, Inc. has a 12-month low of $192.95 and a 12-month high of $265.74. The firm has a 50-day moving average price of $246.42 and a two-hundred day moving average price of $234.50. The company has a market capitalization of $45.49 billion, a P/E ratio of 37.89, a P/E/G ratio of 2.03 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) 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. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.19 earnings per share. Analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 1.93%. L3Harris Technologies’s dividend payout ratio is 73.30%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Wells Fargo & Company upped their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Tuesday, November 26th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Thursday, October 10th. Finally, Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.