Holocene Advisors LP Acquires Shares of 108,188 L3Harris Technologies Inc $LHX

Holocene Advisors LP acquired a new stake in L3Harris Technologies Inc (NYSE:LHX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 108,188 shares of the company’s stock, valued at approximately $33,042,000. Holocene Advisors LP owned about 0.06% of L3Harris Technologies as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Horizon Corp acquired a new stake in shares of L3Harris Technologies during the 3rd quarter worth about $10,667,000. Merit Financial Group LLC grew its stake in L3Harris Technologies by 55.9% in the 3rd quarter. Merit Financial Group LLC now owns 9,989 shares of the company’s stock valued at $3,051,000 after buying an additional 3,583 shares during the last quarter. Korea Investment CORP raised its holdings in L3Harris Technologies by 11.2% in the 3rd quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock valued at $46,901,000 after acquiring an additional 15,408 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in L3Harris Technologies by 13.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock worth $9,230,000 after acquiring an additional 3,532 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in L3Harris Technologies by 32.6% during the third quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company’s stock worth $6,513,000 after acquiring an additional 5,239 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. This represents a 41.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Melanie Rakita sold 751 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $278,110.32. Following the completion of the sale, the vice president directly owned 4,131 shares in the company, valued at $1,529,791.92. This trade represents a 15.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 19,025 shares of company stock valued at $6,824,370. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $366.41 on Tuesday. The stock has a market capitalization of $68.44 billion, a PE ratio of 42.96, a P/E/G ratio of 2.59 and a beta of 0.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The business has a fifty day moving average price of $350.22 and a two-hundred day moving average price of $309.70. L3Harris Technologies Inc has a fifty-two week low of $195.72 and a fifty-two week high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period in the prior year, the firm posted $3.47 EPS. L3Harris Technologies’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, March 6th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio is currently 58.62%.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research reports. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Truist Financial set a $364.00 price target on L3Harris Technologies in a report on Wednesday, January 14th. Royal Bank Of Canada boosted their price target on L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.