L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Raised by TIAA Trust National Association

TIAA Trust National Association lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,737 shares of the company’s stock after acquiring an additional 148 shares during the quarter. TIAA Trust National Association’s holdings in L3Harris Technologies were worth $796,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LHX. Bfsg LLC bought a new stake in shares of L3Harris Technologies during the 1st quarter worth $25,000. Transcendent Capital Group LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $28,000. Blue Trust Inc. boosted its stake in shares of L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in shares of L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after acquiring an additional 79 shares in the last quarter. Finally, Sachetta LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at $49,000. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

LHX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a report on Monday, April 22nd. Wells Fargo & Company increased their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Barclays increased their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Finally, Royal Bank of Canada increased their target price on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $231.80.

Insiders Place Their Bets

In other news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The disclosure for this sale can be found here. Insiders have sold 109,312 shares of company stock valued at $24,712,822 over the last three months. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Stock Down 1.3 %

L3Harris Technologies stock traded down $2.99 during mid-day trading on Friday, hitting $234.77. 643,164 shares of the company’s stock were exchanged, compared to its average volume of 800,777. 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 stock has a market cap of $44.53 billion, a P/E ratio of 38.11, a P/E/G ratio of 1.95 and a beta of 0.72. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $242.86. The stock has a 50 day moving average of $224.64 and a two-hundred day moving average of $214.96.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.86 earnings per share. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 12.99 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders 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 yield of 1.98%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

About L3Harris Technologies

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.