Quantinno Capital Management LP Purchases 12,525 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Quantinno Capital Management LP lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 69.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,545 shares of the company’s stock after purchasing an additional 12,525 shares during the quarter. Quantinno Capital Management LP’s holdings in L3Harris Technologies were worth $6,423,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in LHX. Raymond James Financial Inc. bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $398,507,000. Invesco Ltd. increased 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 during the last quarter. Vanguard Group Inc. increased its stake in L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after acquiring an additional 401,168 shares during the last quarter. Deutsche Bank AG increased its stake in L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock worth $155,691,000 after acquiring an additional 289,514 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $53,011,000. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LHX shares. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. UBS Group boosted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Citigroup cut their target price on L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Morgan Stanley cut their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group cut their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.56.

L3Harris Technologies Stock Up 1.6%

Shares of NYSE LHX opened at $230.42 on Friday. The stock has a 50 day moving average price of $214.69 and a 200 day moving average price of $219.53. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a market capitalization of $43.08 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion during 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%. L3Harris Technologies’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.06 earnings per share. Sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.08%. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares in the company, valued at $632,122. This represents a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

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.