AlphaQuest LLC Boosts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

AlphaQuest LLC boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 2,699.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,106 shares of the company’s stock after acquiring an additional 9,745 shares during the period. AlphaQuest LLC’s holdings in L3Harris Technologies were worth $2,125,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of LHX. Jackson Hole Capital Partners LLC increased its position in shares of L3Harris Technologies by 0.9% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 9,890 shares of the company’s stock worth $2,080,000 after purchasing an additional 85 shares in the last quarter. Amundi increased its position in L3Harris Technologies by 223.6% during the fourth quarter. Amundi now owns 78,077 shares of the company’s stock worth $16,174,000 after buying an additional 53,946 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in L3Harris Technologies by 5.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 3,134 shares of the company’s stock worth $659,000 after buying an additional 149 shares during the period. HM Payson & Co. lifted its stake in L3Harris Technologies by 2.9% in the fourth quarter. HM Payson & Co. now owns 467,846 shares of the company’s stock valued at $98,379,000 after buying an additional 13,375 shares during the last quarter. Finally, Machina Capital S.A.S. acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $1,637,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 4,901 shares of company stock worth $1,059,757. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $220.47 on Friday. The firm’s fifty day simple moving average is $208.94 and its 200-day simple moving average is $227.64. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $41.52 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a $1.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LHX. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a report on Friday. Truist Financial dropped their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Bank of America decreased 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. Royal Bank of Canada restated a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, Citigroup decreased their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

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.