4,048 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Bought by Aigen Investment Management LP

Aigen Investment Management LP purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,048 shares of the company’s stock, valued at approximately $851,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. National Pension Service grew its position in L3Harris Technologies by 42.1% during the 4th quarter. National Pension Service now owns 606,047 shares of the company’s stock worth $127,440,000 after purchasing an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. grew its position in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Mizuho Markets Americas LLC grew its position in L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares during the last quarter. Victory Capital Management Inc. grew its position in L3Harris Technologies by 132.4% during the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock worth $58,992,000 after purchasing an additional 159,806 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in L3Harris Technologies during the 4th quarter worth $25,071,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LHX shares. Susquehanna lowered their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Finally, UBS Group lifted their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $261.47.

L3Harris Technologies Stock Performance

Shares of LHX opened at $210.84 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a market cap of $39.70 billion, a P/E ratio of 26.79, a PEG ratio of 2.42 and a beta of 0.74. The company has a 50-day moving average of $208.77 and a two-hundred day moving average of $227.82. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.28%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 4,901 shares of company stock worth $1,059,757. 0.87% of the stock is owned by company insiders.

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.