Two Sigma Advisers LP Increases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Two Sigma Advisers LP grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 61.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 218,700 shares of the company's stock after acquiring an additional 83,100 shares during the period. Two Sigma Advisers LP owned 0.12% of L3Harris Technologies worth $45,988,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC boosted its stake in L3Harris Technologies by 5.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock worth $200,000 after purchasing an additional 50 shares during the period. Belpointe Asset Management LLC lifted its holdings in shares of L3Harris Technologies by 0.7% in the fourth quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock worth $1,476,000 after buying an additional 52 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of L3Harris Technologies by 2.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock worth $514,000 after buying an additional 53 shares in the last quarter. Klingman & Associates LLC boosted its holdings in L3Harris Technologies by 2.8% in the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company's stock valued at $406,000 after purchasing an additional 53 shares during the period. Finally, Zullo Investment Group Inc. grew its position in L3Harris Technologies by 3.2% during the fourth quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company's stock worth $361,000 after buying an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the 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 transaction, the insider now owns 2,797 shares of the company's stock, valued at $632,122. This represents a 53.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was 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 in the company, valued at $6,475,517.60. This represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LHX has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Truist Financial dropped their price target 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. The Goldman Sachs Group upgraded 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 report on Friday, April 11th. Morgan Stanley decreased their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Finally, UBS Group raised their price objective 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 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $256.56.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded down $1.38 during mid-day trading on Friday, hitting $237.81. The stock had a trading volume of 2,359,028 shares, compared to its average volume of 1,069,429. 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 firm has a market capitalization of $44.46 billion, a P/E ratio of 30.22, a P/E/G ratio of 2.42 and a beta of 0.72. The firm's 50 day moving average is $216.48 and its 200 day moving average is $219.16.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion for 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%. The business's revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.06 earnings per share. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 2.02%. L3Harris Technologies's payout ratio is 56.94%.

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.