L3Harris Technologies Inc $LHX Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.7% during the second quarter, Holdings Channel.com reports. The firm owned 62,622 shares of the company’s stock after selling 1,067 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in L3Harris Technologies were worth $15,708,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Nuveen LLC acquired a new position in L3Harris Technologies during the first quarter worth about $299,157,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in L3Harris Technologies by 946.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock worth $164,297,000 after acquiring an additional 709,948 shares during the period. Wellington Management Group LLP grew its holdings in L3Harris Technologies by 12.2% during the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after acquiring an additional 557,610 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock worth $486,898,000 after acquiring an additional 311,886 shares during the period. Finally, Appaloosa LP acquired a new position in L3Harris Technologies during the first quarter worth about $62,793,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 195,138 shares of company stock worth $53,571,774. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial lifted their target price on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Saturday. Royal Bank Of Canada lifted their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $287.63.

L3Harris Technologies Trading Down 0.0%

Shares of NYSE LHX opened at $293.22 on Friday. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $308.12. The firm has a market capitalization of $54.86 billion, a PE ratio of 32.76, a PEG ratio of 2.14 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $285.35 and a two-hundred day moving average price of $258.81.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company posted $3.24 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

L3Harris Technologies 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.