L3Harris Technologies Inc $LHX Shares Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 109.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,842 shares of the company’s stock after buying an additional 8,271 shares during the quarter. Cinctive Capital Management LP’s holdings in L3Harris Technologies were worth $4,838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LHX. Caitlin John LLC acquired a new position in L3Harris Technologies during the third quarter valued at $28,000. GGM Financials LLC acquired a new stake in L3Harris Technologies during the third quarter worth about $32,000. Twin Peaks Wealth Advisors LLC purchased a new position in L3Harris Technologies during the second quarter valued at approximately $34,000. Salomon & Ludwin LLC acquired a new position in L3Harris Technologies in the third quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. grew its stake in shares of L3Harris Technologies by 234.8% during the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after purchasing an additional 108 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In related news, insider Samir Mehta sold 5,528 shares of the business’s stock in a transaction that occurred 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 owned 7,756 shares in the company, valued at $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the transaction, the insider directly owned 7,660 shares of the company’s stock, valued at $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 19,025 shares of company stock valued at $6,824,370. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $358.66 on Monday. L3Harris Technologies Inc has a 1 year low of $195.72 and a 1 year high of $379.23. The stock has a 50-day simple moving average of $349.12 and a 200-day simple moving average of $309.07. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The stock has a market capitalization of $66.99 billion, a PE ratio of 42.05, a PEG ratio of 2.59 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.47 EPS. On average, 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. Stockholders of record on Friday, March 6th will be given a dividend of $1.25 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio is 58.62%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LHX. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. raised their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. UBS Group lifted their target price on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Finally, Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Company 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.