Public Employees Retirement Association of Colorado Cuts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Public Employees Retirement Association of Colorado cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 1.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 28,210 shares of the company’s stock after selling 536 shares during the period. Public Employees Retirement Association of Colorado’s holdings in L3Harris Technologies were worth $5,942,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Strong Tower Advisory Services grew its stake in L3Harris Technologies by 0.9% during the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after purchasing an additional 49 shares in the last quarter. Blossom Wealth Management lifted its stake in L3Harris Technologies by 2.1% in the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after acquiring an additional 51 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in L3Harris Technologies by 12.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after acquiring an additional 53 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of L3Harris Technologies by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after purchasing an additional 58 shares during the last quarter. Finally, Twin Lakes Capital Management LLC raised its holdings in shares of L3Harris Technologies by 0.4% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,695 shares of the company’s stock valued at $2,559,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Barclays upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada boosted their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Citigroup upped their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $231.80.

View Our Latest Stock Analysis on LHX

L3Harris Technologies Price Performance

Shares of LHX opened at $221.86 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $226.99. The firm has a 50-day simple moving average of $214.50 and a 200-day simple moving average of $209.67. The company has a market capitalization of $42.08 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71.

L3Harris Technologies (NYSE:LHXGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the firm earned $2.86 EPS. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 12.89 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.09%. L3Harris Technologies’s payout ratio is currently 75.32%.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $26,766,518.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $26,766,518.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,845 shares of company stock worth $26,577,524. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies, Inc. (NYSE:LHXFree Report).

Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

Receive News & Ratings for L3Harris Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris Technologies and related companies with MarketBeat.com's FREE daily email newsletter.