Point72 Asia Singapore Pte. Ltd. Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 617 shares of the company’s stock, valued at approximately $147,000.

Other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at approximately $393,000. Point72 Hong Kong Ltd purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at approximately $489,000. Encompass More Asset Management increased its holdings in shares of L3Harris Technologies by 26.8% during the 3rd quarter. Encompass More Asset Management now owns 2,148 shares of the company’s stock valued at $511,000 after purchasing an additional 454 shares in the last quarter. L.M. Kohn & Company purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at approximately $202,000. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at approximately $285,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LHX shares. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” 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 lifted their price target for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Wells Fargo & Company lifted their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.67.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 0.3 %

NYSE LHX opened at $240.48 on Thursday. L3Harris Technologies, Inc. has a 52 week low of $193.34 and a 52 week high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $246.57 and its 200-day simple moving average is $234.54. The firm has a market cap of $45.61 billion, a PE ratio of 37.99, a P/E/G ratio of 2.03 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the firm earned $3.19 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.93%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

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.