L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 235.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,190 shares of the company’s stock after buying an additional 7,852 shares during the quarter. Teacher Retirement System of Texas’ holdings in L3Harris Technologies were worth $2,353,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies during the fourth quarter worth approximately $27,000. Roxbury Financial LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth $30,000. Union Bancaire Privee UBP SA purchased a new position in shares of L3Harris Technologies in the 4th quarter worth $33,000. New Millennium Group LLC boosted its holdings in L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after acquiring an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont grew its position in L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after acquiring an additional 86 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,334 shares of company stock valued at $1,383,709. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on LHX shares. Barclays cut their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. UBS Group lifted their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $211.97 on Thursday. The firm has a market cap of $39.79 billion, a P/E ratio of 26.93, a P/E/G ratio of 2.42 and a beta of 0.74. The firm has a fifty day moving average of $209.66 and a two-hundred day moving average of $225.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $1.20 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.26%. L3Harris Technologies’s payout ratio is presently 60.99%.

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.