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

Teacher Retirement System of Texas grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 235.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,190 shares of the company’s stock after purchasing an additional 7,852 shares during the quarter. Teacher Retirement System of Texas’ holdings in L3Harris Technologies were worth $2,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LHX. Measured Wealth Private Client Group LLC raised its stake in L3Harris Technologies by 5.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after acquiring an additional 50 shares in the last quarter. Avestar Capital LLC lifted its holdings in L3Harris Technologies by 4.2% in the third quarter. Avestar Capital LLC now owns 1,255 shares of the company’s stock worth $299,000 after purchasing an additional 51 shares during the period. Premier Path Wealth Partners LLC lifted its holdings in L3Harris Technologies by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock worth $328,000 after purchasing an additional 51 shares during the period. U.S. Capital Wealth Advisors LLC grew its position in L3Harris Technologies by 2.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock valued at $514,000 after buying an additional 53 shares in the last quarter. Finally, Klingman & Associates LLC increased its stake in L3Harris Technologies by 2.8% during the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock valued at $406,000 after buying an additional 53 shares during the period. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LHX. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Barclays lowered their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Bank of America lowered their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $261.40.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction 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 completion of the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,334 shares of company stock worth $1,383,709. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 0.3 %

LHX stock opened at $211.97 on Thursday. The company has a 50 day moving average of $209.66 and a two-hundred day moving average of $225.78. The company has a market cap of $39.79 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $1.20 dividend. This is a boost 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 dividend yield of 2.26%. L3Harris Technologies’s payout ratio is presently 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.