Quantbot Technologies LP Invests $2.30 Million in L3Harris Technologies, Inc. (NYSE:LHX)

Quantbot Technologies LP acquired a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,660 shares of the company’s stock, valued at approximately $2,298,000.

A number of other institutional investors also recently bought and sold shares of LHX. Meeder Asset Management Inc. grew its holdings in L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares during the period. Archer Investment Corp lifted its position in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at approximately $36,000. Versant Capital Management Inc increased its holdings in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in L3Harris Technologies during the 2nd quarter worth approximately $45,000. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

LHX has been the subject of several recent analyst reports. Truist Financial upped their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Thursday, October 10th. Royal Bank of Canada upped their price objective on 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 raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. 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, the company has an average rating of “Moderate Buy” and an average price target of $269.67.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $245.33 on Friday. The stock has a 50 day moving average price of $245.96 and a 200 day moving average price of $233.88. The firm has a market capitalization of $46.53 billion, a P/E ratio of 38.76, a P/E/G ratio of 2.01 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a 52-week low of $187.68 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 earnings per share. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The trade was a 18.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 8,964 shares of company stock worth $2,179,119. Company insiders own 0.82% of the company’s stock.

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.