L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 8.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,617 shares of the company’s stock after selling 501 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in L3Harris Technologies were worth $1,336,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of L3Harris Technologies during the first quarter valued at approximately $228,000. Kingsview Wealth Management LLC boosted its position in shares of L3Harris Technologies by 9.5% during the first quarter. Kingsview Wealth Management LLC now owns 3,687 shares of the company’s stock worth $786,000 after buying an additional 319 shares during the period. Orion Portfolio Solutions LLC boosted its position in shares of L3Harris Technologies by 21.3% during the first quarter. Orion Portfolio Solutions LLC now owns 9,389 shares of the company’s stock worth $2,001,000 after buying an additional 1,650 shares during the period. TIAA Trust National Association boosted its position in shares of L3Harris Technologies by 4.1% during the first quarter. TIAA Trust National Association now owns 3,737 shares of the company’s stock worth $796,000 after buying an additional 148 shares during the period. Finally, Edgestream Partners L.P. boosted its position in shares of L3Harris Technologies by 151.6% during the first quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after buying an additional 2,325 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $247.00 on Friday. The company has a market capitalization of $46.85 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The stock has a fifty day moving average of $243.16 and a 200-day moving average of $232.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies, Inc. has a one year low of $184.34 and a one year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion during 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%. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.19 earnings per share. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.88%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares in the company, valued at approximately $3,861,670.88. This trade represents a 15.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 8,964 shares of company stock valued at $2,179,119 over the last quarter. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank of Canada upped their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Citigroup upped their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Truist Financial upped their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

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.