New York State Teachers Retirement System Trims Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

New York State Teachers Retirement System lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,191 shares of the company’s stock after selling 2,580 shares during the period. New York State Teachers Retirement System owned about 0.08% of L3Harris Technologies worth $31,792,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Archer Investment Corp raised its stake in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Kennebec Savings Bank acquired a new stake in L3Harris Technologies during the third quarter valued at approximately $36,000. Union Bancaire Privee UBP SA bought a new position in L3Harris Technologies during the 4th quarter worth approximately $33,000. New Millennium Group LLC grew its position in shares of L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after acquiring an additional 163 shares in the last quarter. Finally, Trust Co. of Vermont grew its position in shares of L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after acquiring an additional 86 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LHX. Bank of America dropped their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. UBS Group increased their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $262.67.

L3Harris Technologies Price Performance

NYSE:LHX opened at $198.02 on Friday. The firm has a market cap of $37.56 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. L3Harris Technologies, Inc. has a 12 month low of $196.67 and a 12 month high of $265.74. The company’s 50-day moving average price is $213.30 and its two-hundred day moving average price is $230.15. 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 posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.19 EPS for the current fiscal year.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the transaction, the insider now owns 6,812 shares in the company, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 in the last quarter. 0.82% of the stock is owned by company insiders.

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.