Kentucky Retirement Systems Insurance Trust Fund Sells 498 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 7.4% during the first quarter, HoldingsChannel reports. The firm owned 6,255 shares of the company’s stock after selling 498 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in L3Harris Technologies were worth $1,333,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in shares of L3Harris Technologies by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock worth $2,052,411,000 after purchasing an additional 45,845 shares during the period. BOKF NA increased its stake in shares of L3Harris Technologies by 48.1% in the first quarter. BOKF NA now owns 15,950 shares of the company’s stock worth $3,327,000 after purchasing an additional 5,181 shares during the period. Magnetar Financial LLC bought a new position in shares of L3Harris Technologies in the first quarter worth about $1,133,000. LRI Investments LLC acquired a new stake in L3Harris Technologies during the first quarter worth about $203,000. Finally, 1832 Asset Management L.P. grew its position in L3Harris Technologies by 40.2% during the first quarter. 1832 Asset Management L.P. now owns 245,347 shares of the company’s stock worth $52,283,000 after buying an additional 70,308 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of L3Harris Technologies in a research report on Monday. Barclays lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Wells Fargo & Company lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Susquehanna lifted their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Insider Buying and Selling

In related news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 17,540 shares in the company, valued at approximately $3,823,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the sale, the vice president now owns 17,540 shares in the company, valued at approximately $3,823,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Insiders sold 109,312 shares of company stock worth $24,712,822 in the last quarter. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Down 2.0 %

LHX stock traded down $4.49 during trading on Monday, hitting $224.92. The company had a trading volume of 434,840 shares, compared to its average volume of 991,852. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $226.21 and a 200-day moving average price of $216.14. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $245.60. The stock has a market cap of $42.66 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the previous year, the company posted $2.97 EPS. L3Harris Technologies’s revenue was up 12.9% on a year-over-year basis. As a group, analysts predict that L3Harris Technologies, Inc. will post 12.99 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.