State Board of Administration of Florida Retirement System Has $42.24 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

State Board of Administration of Florida Retirement System boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 9.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 215,262 shares of the company’s stock after buying an additional 18,631 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in L3Harris Technologies were worth $42,243,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Bfsg LLC acquired a new position in shares of L3Harris Technologies in the first quarter worth approximately $25,000. Transcendent Capital Group LLC bought a new position in L3Harris Technologies during the 4th quarter worth approximately $28,000. Blue Trust Inc. lifted its position in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares during the period. Washington Trust Advisors Inc. boosted its stake in shares of L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $46,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

L3Harris Technologies Stock Down 0.9 %

Shares of NYSE:LHX traded down $2.20 during midday trading on Friday, hitting $235.56. 100,361 shares of the company’s stock were exchanged, compared to its average volume of 981,753. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $242.86. The company has a market cap of $44.68 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 1.98 and a beta of 0.72. The stock has a 50 day moving average price of $224.34 and a 200-day moving average price of $214.76.

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

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.97%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insiders Place Their Bets

In other news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the sale, the vice president now owns 17,540 shares in the company, valued at $3,823,720. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The disclosure for this sale can be found here. Insiders have sold 109,312 shares of company stock valued at $24,712,822 in the last three months. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Company 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.