L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Lowered by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,394 shares of the company’s stock after selling 771 shares during the period. Kentucky Retirement Systems’ holdings in L3Harris Technologies were worth $3,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cross Staff Investments Inc lifted its stake in L3Harris Technologies by 12.4% during the fourth 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. Boston Partners lifted its position in shares of L3Harris Technologies by 107.2% during the 4th quarter. Boston Partners now owns 813,558 shares of the company’s stock valued at $171,343,000 after acquiring an additional 420,943 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of L3Harris Technologies by 40.0% during the 4th quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after acquiring an additional 30,358 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of L3Harris Technologies by 3.9% in the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock worth $37,057,000 after acquiring an additional 6,675 shares during the last quarter. Finally, Scout Investments Inc. raised its position in shares of L3Harris Technologies by 59.4% during the fourth quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock worth $7,588,000 after purchasing an additional 13,423 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Down 2.0 %

NYSE:LHX traded down $4.49 during mid-day trading on Monday, reaching $224.92. The stock had a trading volume of 434,840 shares, compared to its average volume of 991,852. The stock has a market cap of $42.66 billion, a P/E ratio of 36.87, a PEG ratio of 1.91 and a beta of 0.72. The business’s 50 day moving average is $226.21 and its 200 day moving average is $216.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the prior year, the company posted $2.97 earnings per share. L3Harris Technologies’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 12.99 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 2.06%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of recent analyst reports. Susquehanna increased their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday. Barclays raised their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. lifted their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Wells Fargo & Company upped their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $245.00 to $257.00 in a research report on Friday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The disclosure for this sale can be found here. Insiders sold 109,312 shares of company stock valued at $24,712,822 over the last 90 days. 0.82% of the stock is currently owned by company insiders.

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.