Two Sigma Securities LLC Sells 3,118 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Two Sigma Securities LLC lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 72.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,163 shares of the company’s stock after selling 3,118 shares during the quarter. Two Sigma Securities LLC’s holdings in L3Harris Technologies were worth $245,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several brokerages have recently commented on LHX. Bank of America reduced their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company lowered their target price on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.56.

Insiders Place Their Bets

In other news, insider Jon Rambeau sold 3,178 shares of the 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 transaction, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Up 1.3 %

LHX opened at $221.54 on Wednesday. The company has a 50 day moving average of $211.56 and a 200 day moving average of $221.77. 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. The company has a market cap of $41.59 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) 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 analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.06 EPS. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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 issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

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.