Kentucky Retirement Systems Sells 100 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Kentucky Retirement Systems reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,294 shares of the company’s stock after selling 100 shares during the quarter. Kentucky Retirement Systems’ holdings in L3Harris Technologies were worth $3,210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RFG Advisory LLC lifted its holdings in shares of L3Harris Technologies by 3.1% in the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after acquiring an additional 43 shares during the last quarter. Optas LLC raised its holdings in L3Harris Technologies by 3.3% in the 2nd quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after buying an additional 44 shares during the last quarter. Founders Financial Securities LLC raised its holdings in L3Harris Technologies by 2.8% in the 2nd quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock valued at $398,000 after buying an additional 48 shares during the last quarter. Whitener Capital Management Inc. raised its holdings in L3Harris Technologies by 3.0% in the 2nd quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock valued at $385,000 after buying an additional 50 shares during the last quarter. Finally, Newman Dignan & Sheerar Inc. raised its holdings in L3Harris Technologies by 0.6% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock valued at $1,996,000 after buying an additional 55 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The shares were 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 owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. Insiders sold a total of 29,402 shares of company stock valued at $6,861,855 in the last quarter. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $230.46 on Friday. The company has a market cap of $43.71 billion, a price-to-earnings ratio of 37.41, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $231.31 and a 200-day moving average of $221.65.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate 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 firm posted $2.97 EPS. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LHX shares. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price objective for the company from $245.00 to $257.00 in a report on Friday, July 26th. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Susquehanna raised their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $247.08.

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.