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

Two Sigma Investments LP increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 92.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 459,818 shares of the company’s stock after buying an additional 220,471 shares during the period. Two Sigma Investments LP’s holdings in L3Harris Technologies were worth $96,691,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after buying an additional 82 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth $27,000. Roxbury Financial LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after buying an additional 111 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction 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. This trade represents a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. The trade was a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LHX. Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and upped their price objective for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Truist Financial reduced their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Jefferies Financial Group reduced their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, UBS Group upped their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.56.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $230.42 on Monday. The firm has a 50-day simple moving average of $214.69 and a 200-day simple moving average of $219.15. The stock has a market capitalization of $43.08 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. 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.

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

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is 56.94%.

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.