Occudo Quantitative Strategies LP Buys Shares of 5,330 L3Harris Technologies, Inc. (NYSE:LHX)

Occudo Quantitative Strategies LP bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, Holdings Channel reports. The fund bought 5,330 shares of the company’s stock, valued at approximately $1,121,000.

Several other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in L3Harris Technologies in the fourth quarter valued at approximately $398,507,000. Invesco Ltd. increased its holdings in L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after purchasing an additional 522,861 shares during the last quarter. Vanguard Group Inc. lifted its stake in L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after buying an additional 401,168 shares during the period. Deutsche Bank AG boosted its holdings in L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock worth $155,691,000 after buying an additional 289,514 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in L3Harris Technologies during the fourth quarter worth about $53,011,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and upped their target price for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Jefferies Financial Group cut their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Finally, Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.56.

L3Harris Technologies Price Performance

LHX stock opened at $218.44 on Wednesday. The stock has a 50-day moving average price of $214.18 and a two-hundred day moving average price of $219.78. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The stock has a market cap of $40.84 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the prior year, the firm earned $3.06 earnings per share. L3Harris Technologies’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.20%. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Company 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.