California Public Employees Retirement System Decreases Holdings in L3Harris Technologies Inc $LHX

California Public Employees Retirement System trimmed its position in L3Harris Technologies Inc (NYSE:LHX) by 17.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 636,180 shares of the company’s stock after selling 133,890 shares during the quarter. California Public Employees Retirement System’s holdings in L3Harris Technologies were worth $159,579,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kiker Wealth Management LLC lifted its holdings in shares of L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in L3Harris Technologies during the 2nd quarter worth $34,000. Nova Wealth Management Inc. acquired a new position in L3Harris Technologies during the 1st quarter valued at about $26,000. Harbor Asset Planning Inc. purchased a new stake in L3Harris Technologies in the second quarter valued at about $32,000. Finally, Independence Bank of Kentucky raised its stake in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after buying an additional 40 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the sale, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LHX shares. Truist Financial boosted their price target on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. BNP Paribas raised shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Finally, Morgan Stanley upped their target price on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $295.00.

L3Harris Technologies Stock Down 0.7%

LHX stock opened at $278.46 on Monday. The company has a market capitalization of $52.09 billion, a P/E ratio of 29.91, a price-to-earnings-growth ratio of 1.95 and a beta of 0.65. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The firm’s fifty day simple moving average is $289.28 and its 200-day simple moving average is $273.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company posted $3.34 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were paid a $1.20 dividend. The ex-dividend date was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio is presently 51.56%.

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.