AQR Capital Management LLC Buys 47,899 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

AQR Capital Management LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 30.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,176 shares of the company's stock after purchasing an additional 47,899 shares during the quarter. AQR Capital Management LLC owned about 0.11% of L3Harris Technologies worth $42,816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of L3Harris Technologies during the third quarter worth about $1,704,000. Synovus Financial Corp increased its holdings in L3Harris Technologies by 17.5% during the 3rd quarter. Synovus Financial Corp now owns 6,734 shares of the company's stock worth $1,602,000 after purchasing an additional 1,003 shares in the last quarter. Franklin Resources Inc. increased its holdings in L3Harris Technologies by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 218,228 shares of the company's stock worth $54,171,000 after purchasing an additional 1,221 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock valued at $52,395,000 after purchasing an additional 4,321 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of L3Harris Technologies by 133.7% during the fourth quarter. Versant Capital Management Inc now owns 472 shares of the company's stock valued at $99,000 after buying an additional 270 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Edward J. Zoiss sold 1,783 shares of the company'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 directly owns 30,620 shares in the company, valued at $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

LHX traded up $1.49 during trading hours on Wednesday, hitting $217.68. The stock had a trading volume of 1,018,372 shares, compared to its average volume of 1,020,623. The stock has a market cap of $40.69 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company's fifty day simple moving average is $213.24 and its 200 day simple moving average is $220.77.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $3.06 earnings per share. Equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's payout ratio is currently 56.94%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LHX shares. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and lowered their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Citigroup reduced their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Jefferies Financial Group dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.56.

About L3Harris Technologies

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.