Two Sigma Securities LLC Decreases Position in L3Harris Technologies, Inc. (NYSE:LHX)

Two Sigma Securities LLC cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 72.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,163 shares of the company's stock after selling 3,118 shares during the period. Two Sigma Securities LLC's holdings in L3Harris Technologies were worth $245,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of LHX. Czech National Bank boosted its holdings in L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company's stock worth $8,648,000 after purchasing an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. raised its position in L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock worth $184,245,000 after acquiring an additional 178,407 shares during the period. Principal Financial Group Inc. boosted its stake in L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock valued at $52,395,000 after acquiring an additional 4,321 shares during the last quarter. Oliver Luxxe Assets LLC bought a new position in L3Harris Technologies during the fourth quarter valued at $3,954,000. Finally, BankPlus Wealth Management LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth about $409,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 0.1 %

Shares of LHX traded down $0.26 during trading hours on Monday, hitting $219.50. The company had a trading volume of 197,720 shares, compared to its average volume of 1,418,109. The stock has a market capitalization of $41.03 billion, a price-to-earnings ratio of 27.89, 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. The firm has a fifty day moving average price of $212.69 and a 200-day moving average price of $221.01. 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 issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The company 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 firm's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.06 earnings per share. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Insiders Place Their Bets

In other news, insider Edward J. Zoiss sold 1,783 shares of the 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 completion of the sale, the insider now directly owns 30,620 shares of the company's stock, valued at $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 SEC, which is available at this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction on Monday, March 10th. The stock was 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 directly owns 2,797 shares of the company's stock, valued at $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

LHX has been the subject of a number of analyst reports. Citigroup cut their price target on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a report on Thursday, April 10th. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Susquehanna lowered their price target on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Bank of America reduced their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Finally, UBS Group increased their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $256.56.

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.