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

AXQ Capital LP purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, Holdings Channel reports. The firm purchased 2,773 shares of the company’s stock, valued at approximately $583,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC lifted its position 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 buying an additional 360 shares during the last quarter. Intech Investment Management LLC raised its stake in L3Harris Technologies by 19.2% during the third quarter. Intech Investment Management LLC now owns 16,491 shares of the company’s stock worth $3,923,000 after acquiring an additional 2,657 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in L3Harris Technologies by 0.4% in the third quarter. Thompson Siegel & Walmsley LLC now owns 14,165 shares of the company’s stock worth $3,369,000 after acquiring an additional 54 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in L3Harris Technologies by 37.3% in the third quarter. Eagle Asset Management Inc. now owns 10,183 shares of the company’s stock valued at $2,654,000 after acquiring an additional 2,765 shares during the period. Finally, Raymond James Trust N.A. grew its holdings in shares of L3Harris Technologies by 14.7% during the third quarter. Raymond James Trust N.A. now owns 19,712 shares of the company’s stock valued at $4,689,000 after purchasing an additional 2,530 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Bank of America cut their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies Trading Down 0.8 %

Shares of LHX opened at $208.15 on Friday. The stock’s 50-day moving average price is $209.80 and its 200 day moving average price is $226.20. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $39.07 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, research 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 announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $1.20 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s payout ratio is 60.99%.

Insider Activity at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,098 shares of company stock valued at $1,760,588 over the last quarter. 0.72% of the stock is owned by company insiders.

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.