Point72 Asset Management L.P. Acquires 3,240 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Point72 Asset Management L.P. grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 282,188 shares of the company's stock after buying an additional 3,240 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.15% of L3Harris Technologies worth $59,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Brookstone Capital Management raised its position in L3Harris Technologies by 11.3% in the 4th quarter. Brookstone Capital Management now owns 3,620 shares of the company's stock valued at $761,000 after purchasing an additional 368 shares during the last quarter. Claro Advisors LLC bought a new position in shares of L3Harris Technologies in the fourth quarter valued at about $241,000. Accurate Wealth Management LLC lifted its position in L3Harris Technologies by 3.8% during the 4th quarter. Accurate Wealth Management LLC now owns 4,175 shares of the company's stock worth $870,000 after buying an additional 152 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in L3Harris Technologies by 4.4% during the 4th quarter. SeaCrest Wealth Management LLC now owns 1,755 shares of the company's stock worth $369,000 after buying an additional 74 shares in the last quarter. Finally, Armstrong Advisory Group Inc. grew its holdings in L3Harris Technologies by 1,660.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company's stock worth $74,000 after acquiring an additional 332 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group upped their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Bank of America dropped their target price on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Finally, Truist Financial decreased their price target on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.56.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of the business's 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 directly owns 2,797 shares of the company's stock, valued at approximately $632,122. The trade was a 53.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the 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 transaction, the insider now owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. This trade represents a 5.50% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Trading Up 0.3%

Shares of LHX stock traded up $0.76 on Monday, reaching $230.96. The company had a trading volume of 1,286,402 shares, compared to its average volume of 1,042,062. The stock has a market cap of $43.18 billion, a PE ratio of 29.35, a PEG ratio of 2.42 and a beta of 0.72. The company has a 50-day moving average of $214.69 and a 200-day moving average of $219.15. 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, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued 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. 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 business's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.06 earnings per share. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is currently 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.