QRG Capital Management Inc. Has $680,000 Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

QRG Capital Management Inc. lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,233 shares of the company’s stock after purchasing an additional 232 shares during the period. QRG Capital Management Inc.’s holdings in L3Harris Technologies were worth $680,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. First Command Advisory Services Inc. lifted its holdings in L3Harris Technologies by 5.5% during the 4th quarter. First Command Advisory Services Inc. now owns 3,443 shares of the company’s stock worth $724,000 after buying an additional 179 shares in the last quarter. Otter Creek Advisors LLC raised its position in shares of L3Harris Technologies by 1,140.2% during the fourth quarter. Otter Creek Advisors LLC now owns 23,366 shares of the company’s stock worth $4,913,000 after acquiring an additional 21,482 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter valued at $25,071,000. New York Life Investment Management LLC boosted its holdings in L3Harris Technologies by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 25,484 shares of the company’s stock valued at $5,359,000 after acquiring an additional 195 shares during the last quarter. Finally, National Pension Service increased its position in L3Harris Technologies by 42.1% in the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock worth $127,440,000 after purchasing an additional 179,539 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LHX. UBS Group upped their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $261.47.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the sale, the insider now owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 over the last three months. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $207.47 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a market cap of $39.07 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.42 and a beta of 0.76. The business has a 50 day simple moving average of $208.82 and a 200 day simple moving average of $227.94. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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%. Analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $1.20 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.31%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 58.96%.

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.