Retirement Systems of Alabama Sells 402 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Retirement Systems of Alabama decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% during the third quarter, HoldingsChannel reports. The firm owned 41,439 shares of the company’s stock after selling 402 shares during the period. Retirement Systems of Alabama’s holdings in L3Harris Technologies were worth $9,857,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of LHX. Blue Trust Inc. increased its holdings in L3Harris Technologies by 106.2% during the second quarter. Blue Trust Inc. now owns 332 shares of the company’s stock valued at $71,000 after buying an additional 171 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of L3Harris Technologies by 28.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,875 shares of the company’s stock valued at $870,000 after acquiring an additional 850 shares during the period. Pallas Capital Advisors LLC purchased a new position in shares of L3Harris Technologies in the 2nd quarter valued at $229,000. Fifth Third Wealth Advisors LLC raised its position in shares of L3Harris Technologies by 47.5% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 1,834 shares of the company’s stock worth $412,000 after acquiring an additional 591 shares in the last quarter. Finally, Courier Capital LLC purchased a new stake in shares of L3Harris Technologies during the 2nd quarter worth $207,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of a number of recent research reports. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Citigroup lifted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Finally, Royal Bank of Canada upped their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.13.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $222.04 on Tuesday. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The business’s 50 day moving average price is $244.74 and its 200 day moving average price is $235.02. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market cap of $42.11 billion, a P/E ratio of 35.08, a P/E/G ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the firm earned $3.19 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.09%. L3Harris Technologies’s payout ratio is currently 73.30%.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.