Trexquant Investment LP Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Trexquant Investment LP bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 101,193 shares of the company’s stock, valued at approximately $21,279,000. Trexquant Investment LP owned 0.05% of L3Harris Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Measured Wealth Private Client Group LLC boosted its holdings in L3Harris Technologies by 5.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after acquiring an additional 50 shares in the last quarter. Premier Path Wealth Partners LLC increased its position in shares of L3Harris Technologies by 3.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock valued at $328,000 after buying an additional 51 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in L3Harris Technologies by 2.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock worth $514,000 after buying an additional 53 shares in the last quarter. Klingman & Associates LLC boosted its position in L3Harris Technologies by 2.8% during the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock valued at $406,000 after acquiring an additional 53 shares in the last quarter. Finally, Zullo Investment Group Inc. grew its holdings in shares of L3Harris Technologies by 3.2% during the 4th quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock worth $361,000 after acquiring an additional 54 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LHX. Citigroup dropped their price target on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Jefferies Financial Group reduced their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Barclays cut their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Susquehanna lowered their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $260.69.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $209.35 on Tuesday. The firm’s 50-day moving average price is $209.16 and its 200-day moving average price is $225.37. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a market cap of $39.30 billion, a PE ratio of 26.60, a PEG ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.29%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

About L3Harris Technologies

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.