Two Sigma Investments LP Grows Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Two Sigma Investments LP raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 92.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 459,818 shares of the company’s stock after buying an additional 220,471 shares during the period. Two Sigma Investments LP owned about 0.24% of L3Harris Technologies worth $96,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. BankPlus Wealth Management LLC purchased a new stake in L3Harris Technologies in the 4th quarter valued at about $409,000. Empowered Funds LLC raised its holdings in shares of L3Harris Technologies by 24.3% in the 4th quarter. Empowered Funds LLC now owns 19,735 shares of the company’s stock valued at $4,150,000 after purchasing an additional 3,852 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of L3Harris Technologies by 51.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,320 shares of the company’s stock valued at $3,011,000 after purchasing an additional 4,890 shares in the last quarter. Private Capital Advisors Inc. raised its holdings in shares of L3Harris Technologies by 82.6% in the 4th quarter. Private Capital Advisors Inc. now owns 7,120 shares of the company’s stock valued at $1,497,000 after purchasing an additional 3,220 shares in the last quarter. Finally, Novare Capital Management LLC raised its holdings in shares of L3Harris Technologies by 6.2% in the 4th quarter. Novare Capital Management LLC now owns 45,934 shares of the company’s stock valued at $9,659,000 after purchasing an additional 2,688 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LHX. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Bank of America reduced their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Finally, Morgan Stanley reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $256.56.

L3Harris Technologies Trading Up 1.6%

NYSE LHX opened at $230.42 on Monday. 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, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The firm has a market cap of $43.08 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The company has a 50 day moving average price of $214.69 and a 200 day moving average price of $219.15.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the business posted $3.06 EPS. L3Harris Technologies’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.08%. L3Harris Technologies’s payout ratio is 56.94%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $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. 0.72% of the stock is currently owned by company insiders.

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.