State of Tennessee Treasury Department Buys 63,859 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

State of Tennessee Treasury Department grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 217.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,206 shares of the company’s stock after buying an additional 63,859 shares during the period. State of Tennessee Treasury Department’s holdings in L3Harris Technologies were worth $19,631,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LHX. Van ECK Associates Corp bought a new position in shares of L3Harris Technologies in the third quarter worth approximately $476,000. Hunter Associates Investment Management LLC grew its position in L3Harris Technologies by 3.4% during the third quarter. Hunter Associates Investment Management LLC now owns 2,287 shares of the company’s stock valued at $398,000 after acquiring an additional 76 shares during the last quarter. Deutsche Bank AG grew its position in L3Harris Technologies by 6.7% during the third quarter. Deutsche Bank AG now owns 269,794 shares of the company’s stock valued at $46,977,000 after acquiring an additional 16,890 shares during the last quarter. Nemes Rush Group LLC grew its position in L3Harris Technologies by 9.8% during the third quarter. Nemes Rush Group LLC now owns 21,759 shares of the company’s stock valued at $3,789,000 after acquiring an additional 1,939 shares during the last quarter. Finally, Fiera Capital Corp grew its position in L3Harris Technologies by 2.4% during the third quarter. Fiera Capital Corp now owns 2,812 shares of the company’s stock valued at $490,000 after acquiring an additional 65 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Barclays increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. increased their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Finally, Citigroup raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. 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 data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $231.80.

Get Our Latest Analysis on L3Harris Technologies

L3Harris Technologies Stock Down 0.2 %

NYSE LHX opened at $221.40 on Tuesday. The stock’s 50 day moving average is $214.76 and its 200 day moving average is $210.21. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $226.99. The stock has a market cap of $42.00 billion, a PE ratio of 35.94, a P/E/G ratio of 1.86 and a beta of 0.71.

L3Harris Technologies (NYSE:LHXGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the previous year, the firm earned $2.86 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. Research analysts predict that L3Harris Technologies, Inc. will post 12.89 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s payout ratio is 75.32%.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Insiders have sold a total of 120,845 shares of company stock valued at $26,577,524 in the last quarter. 0.87% of the stock is currently owned by insiders.

L3Harris Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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