New York State Teachers Retirement System Has $50.62 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)


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New York State Teachers Retirement System lowered its position in L3Harris Technologies, Inc. (NYSE:LHX) by 5.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 267,779 shares of the company’s stock after selling 15,877 shares during the period. New York State Teachers Retirement System’s holdings in L3Harris Technologies were worth $50,616,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in L3Harris Technologies in the fourth quarter worth approximately $174,000. Sound Financial Strategies Group LLC bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $577,000. BKD Wealth Advisors LLC boosted its position in L3Harris Technologies by 29.8% during the fourth quarter. BKD Wealth Advisors LLC now owns 2,522 shares of the company’s stock worth $477,000 after purchasing an additional 579 shares during the period. White Pine Investment CO boosted its position in L3Harris Technologies by 0.9% during the fourth quarter. White Pine Investment CO now owns 24,811 shares of the company’s stock worth $4,690,000 after purchasing an additional 230 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its position in L3Harris Technologies by 52.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,942 shares of the company’s stock worth $740,000 after purchasing an additional 1,351 shares during the period. Hedge funds and other institutional investors own 80.58% of the company’s stock.

In other L3Harris Technologies news, VP Todd A. Taylor sold 4,976 shares of the stock in a transaction on Monday, December 7th. The stock was sold at an average price of $194.64, for a total transaction of $968,528.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

A number of brokerages have issued reports on LHX. 140166 began coverage on L3Harris Technologies in a research report on Monday, December 14th. They set a “positive” rating and a $230.00 target price for the company. JPMorgan Chase & Co. cut L3Harris Technologies from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $220.00 to $215.00 in a research report on Tuesday, December 15th. Robert W. Baird cut L3Harris Technologies from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $242.00 to $210.00 in a research report on Thursday, January 7th. Royal Bank of Canada reduced their price objective on L3Harris Technologies from $219.00 to $199.00 and set an “outperform” rating for the company in a research report on Monday, November 2nd. Finally, Morgan Stanley reduced their price objective on L3Harris Technologies from $248.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, January 7th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. L3Harris Technologies presently has a consensus rating of “Buy” and an average price target of $231.06.

Shares of LHX stock opened at $179.92 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.37 and a quick ratio of 1.18. The stock has a fifty day moving average price of $186.16 and a 200 day moving average price of $180.56. L3Harris Technologies, Inc. has a one year low of $142.01 and a one year high of $230.99. The stock has a market cap of $37.80 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 0.96 and a beta of 0.80.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Friday, October 30th. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.10. L3Harris Technologies had a return on equity of 11.29% and a net margin of 7.18%. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same period in the prior year, the company posted $2.58 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.55 EPS for the current year.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modifications, and periodic depot maintenance services for ISR and airborne missions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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