Teachers Retirement System of The State of Kentucky Sells 898 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Teachers Retirement System of The State of Kentucky lessened its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.9% in the third quarter, HoldingsChannel reports. The fund owned 14,227 shares of the company’s stock after selling 898 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in L3Harris Technologies were worth $3,384,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after purchasing an additional 695,582 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of L3Harris Technologies by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after buying an additional 523,315 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of L3Harris Technologies by 65.2% in the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after acquiring an additional 171,420 shares during the period. International Assets Investment Management LLC grew its stake in shares of L3Harris Technologies by 23,627.0% in the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after acquiring an additional 169,878 shares in the last quarter. Finally, Mizuho Markets Americas LLC increased its position in L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after acquiring an additional 166,262 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.5 %

Shares of LHX stock opened at $223.16 on Friday. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The stock’s fifty day simple moving average is $245.13 and its 200 day simple moving average is $234.86. 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 capitalization of $42.33 billion, a P/E ratio of 35.25, a P/E/G ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.19 earnings per share. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s payout ratio is currently 73.30%.

Analysts Set New Price Targets

A number of analysts have issued reports on LHX shares. Truist Financial boosted their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada increased their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $269.13.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 18.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is 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.