Magnetar Financial LLC Has $1.86 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Magnetar Financial LLC boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 55.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,271 shares of the company’s stock after buying an additional 2,955 shares during the period. Magnetar Financial LLC’s holdings in L3Harris Technologies were worth $1,858,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Public Sector Pension Investment Board grew its position in shares of L3Harris Technologies by 72.6% in the second quarter. Public Sector Pension Investment Board now owns 7,208 shares of the company’s stock valued at $1,619,000 after purchasing an additional 3,032 shares during the last quarter. Cyrus J. Lawrence LLC boosted its stake in L3Harris Technologies by 3.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 34,737 shares of the company’s stock valued at $7,801,000 after purchasing an additional 1,251 shares during the period. 1832 Asset Management L.P. boosted its stake in L3Harris Technologies by 0.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 246,412 shares of the company’s stock valued at $55,339,000 after purchasing an additional 1,065 shares during the period. Frank Rimerman Advisors LLC grew its holdings in L3Harris Technologies by 21,733.3% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,310 shares of the company’s stock valued at $294,000 after buying an additional 1,304 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in L3Harris Technologies by 8.6% during the 2nd quarter. ProShare Advisors LLC now owns 26,202 shares of the company’s stock worth $5,884,000 after buying an additional 2,075 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $10,951,680. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The disclosure for this sale can be found here. Insiders sold 29,402 shares of company stock valued at $6,861,855 over the last quarter. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Up 1.9 %

LHX stock opened at $237.73 on Tuesday. The stock has a market capitalization of $45.09 billion, a P/E ratio of 38.59, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $231.42 and a 200-day moving average price of $222.04. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $245.60.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $2.97 earnings per share. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of recent research reports. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Barclays boosted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price target for the stock from $245.00 to $257.00 in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

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.