Kentucky Retirement Systems Sells 107 Shares of L3Harris Technologies Inc (NYSE:LHX)

Kentucky Retirement Systems trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHXFree Report) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,929 shares of the company’s stock after selling 107 shares during the quarter. Kentucky Retirement Systems’ holdings in L3Harris Technologies were worth $2,706,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of LHX. Raymond James Financial Inc. bought a new stake in L3Harris Technologies during the 4th quarter valued at approximately $398,507,000. Invesco Ltd. boosted its position in shares of L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after purchasing an additional 522,861 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of L3Harris Technologies by 18,295.3% during the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock valued at $107,424,000 after purchasing an additional 510,438 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after purchasing an additional 401,168 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of L3Harris Technologies by 64.2% during the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock valued at $155,691,000 after buying an additional 289,514 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Up 0.7%

Shares of NYSE:LHX opened at $251.31 on Tuesday. The company has a market cap of $46.98 billion, a P/E ratio of 29.81, a PEG ratio of 1.99 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $265.74. The stock’s fifty day moving average price is $232.12 and its 200-day moving average price is $218.46.

L3Harris Technologies (NYSE:LHXGet Free Report) last posted its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.06 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a dividend of $1.20 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.91%. L3Harris Technologies’s dividend payout ratio (DPR) is 56.94%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the transaction, the chief executive officer now owns 145,572 shares of the company’s stock, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider now directly owns 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their target price for the company from $198.00 to $263.00 in a report on Friday, April 11th. UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Truist Financial dropped their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Citigroup boosted their price target on L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company dropped their price target on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $258.75.

Get Our Latest Research Report on LHX

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.

Further Reading

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

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