D. E. Shaw & Co. Inc. Acquires 1,236 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

D. E. Shaw & Co. Inc. increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 21.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,077 shares of the company's stock after purchasing an additional 1,236 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in L3Harris Technologies were worth $1,488,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after acquiring an additional 82 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $27,000. Roxbury Financial LLC acquired a new position in L3Harris Technologies in the 4th quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after purchasing an additional 111 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LHX has been the topic of several research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. 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 note on Friday, April 25th. Bank of America decreased their price target on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. 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 report on Monday, March 31st. Finally, UBS Group raised their price target on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $256.56.

L3Harris Technologies Price Performance

Shares of LHX traded down $2.08 during mid-day trading on Wednesday, hitting $245.82. 593,213 shares of the company traded hands, compared to its average volume of 1,460,451. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average of $218.24 and a 200 day moving average of $218.60. The stock has a market capitalization of $45.96 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. During the same period last year, the firm earned $3.06 EPS. The business's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.95%. L3Harris Technologies's payout ratio is presently 56.94%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the company'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 value of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction on Monday, March 10th. The stock was 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 in the company, valued at $632,122. The trade was 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.

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.