California Public Employees Retirement System Trims Position in L3Harris Technologies Inc $LHX

California Public Employees Retirement System decreased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 7.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 459,901 shares of the company’s stock after selling 37,005 shares during the period. California Public Employees Retirement System’s holdings in L3Harris Technologies were worth $158,735,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in LHX. Cedar Mountain Advisors LLC grew its position in L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock valued at $28,000 after acquiring an additional 74 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in L3Harris Technologies in the fourth quarter valued at about $25,000. Tower View Wealth Management LLC purchased a new position in L3Harris Technologies in the first quarter valued at about $29,000. Fideuram Asset Management Ireland dac acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $25,000. Finally, Motiv8 Investments LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $25,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the sale, the vice president owned 4,192 shares of the company’s stock, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

L3Harris Technologies Trading Down 0.8%

NYSE:LHX opened at $282.22 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. L3Harris Technologies Inc has a one year low of $260.22 and a one year high of $379.23. The business’s 50-day simple moving average is $301.05 and its 200 day simple moving average is $328.86. The stock has a market cap of $52.58 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter last year, the firm earned $2.41 EPS. L3Harris Technologies’s quarterly revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, sell-side analysts predict that L3Harris Technologies Inc will post 11.53 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, June 5th. L3Harris Technologies’s dividend payout ratio is 54.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. UBS Group lowered their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Finally, Sanford C. Bernstein dropped their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.75.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.