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

Quantinno Capital Management LP increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 69.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,545 shares of the company's stock after acquiring an additional 12,525 shares during the quarter. Quantinno Capital Management LP's holdings in L3Harris Technologies were worth $6,423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after buying an additional 401,168 shares during the period. Geode Capital Management LLC raised its position in shares of L3Harris Technologies by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock valued at $1,004,418,000 after buying an additional 53,787 shares in the last quarter. FMR LLC raised its position in shares of L3Harris Technologies by 11.5% in the 4th quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after buying an additional 233,968 shares in the last quarter. Invesco Ltd. raised its position in shares of L3Harris Technologies by 30.5% in the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after buying an additional 522,861 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $398,507,000. Institutional investors own 84.76% of the company's stock.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction 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 sale, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $718,228.00. Following the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Citigroup decreased their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Bank of America reduced their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Finally, Morgan Stanley cut their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $256.56.

L3Harris Technologies Price Performance

LHX traded down $0.17 on Tuesday, reaching $230.80. The company had a trading volume of 1,043,120 shares, compared to its average volume of 1,044,071. The business has a 50 day simple moving average of $215.12 and a 200 day simple moving average of $219.03. The company has a market cap of $43.15 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.42 and a beta of 0.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for 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 revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

L3Harris Technologies Company 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.