Two Sigma Advisers LP Has $32.26 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Two Sigma Advisers LP raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 61.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 135,600 shares of the company’s stock after acquiring an additional 51,400 shares during the period. Two Sigma Advisers LP’s holdings in L3Harris Technologies were worth $32,255,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LHX. Texas Capital Bank Wealth Management Services Inc acquired a new position in L3Harris Technologies during the third quarter valued at $211,000. Quantinno Capital Management LP grew its stake in L3Harris Technologies by 19.6% during the 3rd quarter. Quantinno Capital Management LP now owns 18,020 shares of the company’s stock valued at $4,287,000 after acquiring an additional 2,952 shares in the last quarter. Quarry LP acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $539,000. Royal London Asset Management Ltd. boosted its holdings in shares of L3Harris Technologies by 4.2% during the third quarter. Royal London Asset Management Ltd. now owns 87,558 shares of the company’s stock worth $20,827,000 after purchasing an additional 3,563 shares during the period. Finally, Rench Wealth Management Inc. grew its holdings in shares of L3Harris Technologies by 3.8% during the 3rd quarter. Rench Wealth Management Inc. now owns 28,915 shares of the company’s stock valued at $6,878,000 after acquiring an additional 1,069 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of a number of recent research reports. Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Citigroup lifted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $269.67.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now directly owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Down 1.5 %

Shares of L3Harris Technologies stock opened at $234.64 on Friday. L3Harris Technologies, Inc. has a 52-week low of $193.34 and a 52-week high of $265.74. The firm has a market capitalization of $44.50 billion, a PE ratio of 37.07, a price-to-earnings-growth ratio of 2.01 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The company’s fifty day moving average price is $246.69 and its two-hundred day moving average price is $234.70.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.19 earnings per share. On average, analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is 73.30%.

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.