Dark Forest Capital Management LP Purchases 5,213 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Dark Forest Capital Management LP increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 279.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,077 shares of the company's stock after buying an additional 5,213 shares during the period. Dark Forest Capital Management LP's holdings in L3Harris Technologies were worth $1,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Harvest Investment Services LLC bought a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $251,000. Hsbc Holdings PLC boosted its holdings in shares of L3Harris Technologies by 11.3% in the 4th quarter. Hsbc Holdings PLC now owns 349,495 shares of the company's stock valued at $73,382,000 after purchasing an additional 35,571 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of L3Harris Technologies by 2.5% during the 4th quarter. Stifel Financial Corp now owns 230,692 shares of the company's stock worth $48,520,000 after buying an additional 5,586 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in L3Harris Technologies by 99.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 327 shares of the company's stock valued at $69,000 after buying an additional 163 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in L3Harris Technologies by 20.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,814 shares of the company's stock worth $2,274,000 after acquiring an additional 1,819 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Trading Up 0.8 %

Shares of LHX stock traded up $1.67 during trading hours on Monday, reaching $217.75. The company's stock had a trading volume of 348,783 shares, compared to its average volume of 1,424,244. The firm's fifty day simple moving average is $210.58 and its 200 day simple moving average is $221.96. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The stock has a market capitalization of $40.88 billion, a P/E ratio of 27.67, a P/E/G ratio of 2.42 and a beta of 0.71. 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, missing analysts' consensus estimates of $2.55 by ($0.14). The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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 issued a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.20%. L3Harris Technologies's payout ratio is 60.99%.

Insider Activity

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 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the 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 owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LHX shares. Raymond James cut shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Morgan Stanley dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. The Goldman Sachs Group raised 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $257.25.

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.