L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,337 shares of the company’s stock after selling 851 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in L3Harris Technologies were worth $3,441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. QRG Capital Management Inc. acquired a new position in L3Harris Technologies in the third quarter valued at $308,000. Envestnet Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 56.8% during the third quarter. Envestnet Asset Management Inc. now owns 246,312 shares of the company’s stock worth $42,888,000 after purchasing an additional 89,228 shares in the last quarter. Invesco Ltd. lifted its stake in shares of L3Harris Technologies by 15.3% during the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock worth $254,187,000 after purchasing an additional 193,690 shares in the last quarter. Rathbones Group PLC lifted its stake in shares of L3Harris Technologies by 2.5% during the third quarter. Rathbones Group PLC now owns 2,545 shares of the company’s stock worth $443,000 after purchasing an additional 61 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in shares of L3Harris Technologies by 110.1% during the third quarter. V Square Quantitative Management LLC now owns 2,420 shares of the company’s stock worth $421,000 after purchasing an additional 1,268 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on LHX shares. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. lifted their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Barclays lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada lifted their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Finally, Wells Fargo & Company lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $231.80.

L3Harris Technologies Stock Up 0.8 %

NYSE:LHX opened at $222.44 on Wednesday. The firm has a market capitalization of $42.19 billion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 1.83 and a beta of 0.71. The stock has a 50 day moving average of $216.28 and a 200-day moving average of $211.46. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $226.99. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.86 earnings per share. Analysts predict that L3Harris Technologies, Inc. will post 12.89 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,086,585.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,086,585.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,898 shares of company stock worth $27,046,967. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies 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.