Bayesian Capital Management LP Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Bayesian Capital Management LP raised its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 29.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,684 shares of the company's stock after purchasing an additional 3,100 shares during the quarter. Bayesian Capital Management LP's holdings in L3Harris Technologies were worth $2,877,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Czech National Bank increased its position in shares of L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company's stock worth $8,648,000 after purchasing an additional 2,480 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in L3Harris Technologies by 2.0% during the 3rd 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 during the last quarter. Oliver Luxxe Assets LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at $3,954,000. BankPlus Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter worth about $409,000. Finally, Empowered Funds LLC boosted its stake in 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 during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was 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 owns 30,620 shares of the company's stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on LHX shares. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Wells Fargo & Company cut their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Truist Financial lowered their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. UBS Group upped their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.56.

L3Harris Technologies Price Performance

LHX traded up $1.31 on Friday, reaching $219.70. The stock had a trading volume of 558,299 shares, compared to its average volume of 1,410,345. The firm has a 50-day moving average of $213.70 and a 200-day moving average of $220.54. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a market capitalization of $41.07 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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 firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.06 earnings per share. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is presently 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.