New York Life Investment Management LLC Reduces Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

New York Life Investment Management LLC lowered its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 31.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,950 shares of the company’s stock after selling 12,235 shares during the quarter. New York Life Investment Management LLC’s holdings in L3Harris Technologies were worth $5,676,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cross Staff Investments Inc raised its stake in L3Harris Technologies by 12.4% in the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock valued at $302,000 after purchasing an additional 158 shares during the last quarter. Sapient Capital LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $1,198,000. Bruce G. Allen Investments LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $46,000. BKM Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $1,125,000. Finally, South Dakota Investment Council boosted its position in L3Harris Technologies by 43.2% during the third quarter. South Dakota Investment Council now owns 39,368 shares of the company’s stock worth $6,855,000 after acquiring an additional 11,879 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 0.4 %

Shares of L3Harris Technologies stock opened at $212.24 on Friday. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The stock has a market cap of $40.26 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $210.22 and a 200 day moving average price of $202.31.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.86 earnings per share. Equities research analysts forecast that L3Harris Technologies, Inc. will post 12.87 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LHX shares. JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Raymond James upped their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Finally, Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.33.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock worth $10,261,360 over the last 90 days. Company insiders own 0.82% 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.