Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,329 shares of the company’s stock after selling 968 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in L3Harris Technologies were worth $8,480,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LHX. Raymond James Financial Inc. purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth $398,507,000. Boston Partners grew its stake in shares of L3Harris Technologies by 20.2% in the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock worth $247,893,000 after acquiring an additional 198,243 shares during the last quarter. National Pension Service boosted its position in shares of L3Harris Technologies by 42.1% during the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after buying an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of L3Harris Technologies by 132.4% during the fourth quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock valued at $58,992,000 after buying an additional 159,806 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on LHX. JPMorgan Chase & Co. dropped their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Barclays dropped their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Truist Financial dropped their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Susquehanna dropped their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies Stock Down 0.8 %

NYSE LHX opened at $208.15 on Friday. The stock’s 50-day moving average price is $209.80 and its 200-day moving average price is $226.26. 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, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a market capitalization of $39.07 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.31%. The ex-dividend date was Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,098 shares of company stock valued at $1,760,588. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Company Profile

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.