Maryland State Retirement & Pension System Has $2.13 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Maryland State Retirement & Pension System cut its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 6.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,112 shares of the company’s stock after selling 708 shares during the quarter. Maryland State Retirement & Pension System’s holdings in L3Harris Technologies were worth $2,126,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quest Partners LLC raised its position in shares of L3Harris Technologies by 36,000.0% during the third quarter. Quest Partners LLC now owns 361 shares of the company’s stock worth $86,000 after purchasing an additional 360 shares during the period. Fifth Third Wealth Advisors LLC increased its position in shares of L3Harris Technologies by 30.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,397 shares of the company’s stock valued at $570,000 after purchasing an additional 563 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of L3Harris Technologies by 616.6% during the 3rd quarter. Avior Wealth Management LLC now owns 2,637 shares of the company’s stock valued at $627,000 after purchasing an additional 2,269 shares during the last quarter. Strategy Asset Managers LLC grew its stake in shares of L3Harris Technologies by 15.0% during the 3rd quarter. Strategy Asset Managers LLC now owns 1,586 shares of the company’s stock worth $377,000 after acquiring an additional 207 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of L3Harris Technologies by 33.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 24,873 shares of the company’s stock worth $5,917,000 after acquiring an additional 6,174 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on LHX shares. Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Susquehanna lowered their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. UBS Group upped their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Bank of America decreased their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $261.40.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,098 shares of company stock valued at $1,760,588. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Trading Down 1.5 %

NYSE LHX opened at $209.91 on Friday. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a market cap of $39.40 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.42 and a beta of 0.74. The stock’s fifty day moving average price is $209.80 and its 200-day moving average price is $226.46. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS 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, equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a $1.20 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a yield of 2.29%. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

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.