Magnetar Financial LLC Buys 5,187 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Magnetar Financial LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,211 shares of the company’s stock after buying an additional 5,187 shares during the period. Magnetar Financial LLC’s holdings in L3Harris Technologies were worth $6,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quest Partners LLC increased its holdings in shares of L3Harris Technologies by 36,000.0% in the 3rd quarter. Quest Partners LLC now owns 361 shares of the company’s stock worth $86,000 after purchasing an additional 360 shares in the last quarter. Pathstone Holdings LLC increased its holdings in shares of L3Harris Technologies by 3.3% in the 3rd quarter. Pathstone Holdings LLC now owns 57,912 shares of the company’s stock worth $13,775,000 after purchasing an additional 1,844 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of L3Harris Technologies by 30.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,397 shares of the company’s stock worth $570,000 after purchasing an additional 563 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of L3Harris Technologies by 616.6% in the 3rd quarter. Avior Wealth Management LLC now owns 2,637 shares of the company’s stock worth $627,000 after purchasing an additional 2,269 shares in the last quarter. Finally, Strategy Asset Managers LLC increased its holdings in shares of L3Harris Technologies by 15.0% in the 3rd quarter. Strategy Asset Managers LLC now owns 1,586 shares of the company’s stock worth $377,000 after purchasing an additional 207 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,098 shares of company stock worth $1,760,588 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LHX shares. Citigroup reduced their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Wells Fargo & Company reduced their target price on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday, March 7th. 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 report on Tuesday, February 4th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Finally, UBS Group lifted their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Price Performance

NYSE LHX opened at $213.07 on Thursday. The company has a market capitalization of $40.00 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. 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 business’s fifty day moving average is $209.74 and its 200 day moving average is $226.58. 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 released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed 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. This represents a $4.80 annualized dividend and a dividend yield of 2.25%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

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.