L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 265,501 shares of the company’s stock after selling 20,278 shares during the quarter. New York State Common Retirement Fund owned 0.14% of L3Harris Technologies worth $55,920,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GDS Wealth Management increased its position in L3Harris Technologies by 184.5% during the 3rd quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock worth $15,692,000 after purchasing an additional 58,441 shares in the last quarter. Sapient Capital LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth approximately $1,198,000. Bruce G. Allen Investments LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth approximately $46,000. Ceredex Value Advisors LLC increased its position in L3Harris Technologies by 14.1% during the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock worth $117,315,000 after purchasing an additional 83,319 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth approximately $1,125,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE:LHX opened at $207.62 on Wednesday. The firm has a market cap of $39.47 billion, a P/E ratio of 32.24, a PEG ratio of 1.93 and a beta of 0.65. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The business’s 50-day moving average price is $210.23 and its 200 day moving average price is $200.95.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.04. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.27 EPS. As a group, sell-side analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.23%. L3Harris Technologies’s dividend payout ratio is 72.05%.

Analyst Ratings Changes

LHX has been the subject of several recent research reports. Citigroup increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research report on Monday. Royal Bank of Canada increased their price objective on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Raymond James increased their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $229.60.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 in the last three months. 0.87% of the stock is owned by insiders.

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.