L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 7.0% during the 1st quarter, Holdings Channel reports. The firm owned 27,583 shares of the company’s stock after selling 2,080 shares during the quarter. State of Alaska Department of Revenue’s holdings in L3Harris Technologies were worth $5,877,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cross Staff Investments Inc increased its holdings in L3Harris Technologies by 12.4% in the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after acquiring an additional 158 shares in the last quarter. Boston Partners increased its stake in shares of L3Harris Technologies by 107.2% during the fourth quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after purchasing an additional 420,943 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of L3Harris Technologies by 40.0% during the 4th quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after purchasing an additional 30,358 shares during the last quarter. Stifel Financial Corp lifted its stake in L3Harris Technologies by 3.9% in the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock valued at $37,057,000 after buying an additional 6,675 shares in the last quarter. Finally, Scout Investments Inc. boosted its holdings in L3Harris Technologies by 59.4% in the 4th quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock worth $7,588,000 after buying an additional 13,423 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Royal Bank of Canada upped their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research note on Monday, April 22nd. Wells Fargo & Company upped their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Finally, Barclays raised 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, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $231.80.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,157,578.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the sale, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,157,578.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $222.45, for a total value of $5,561,250.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $26,766,518.70. The disclosure for this sale can be found here. Insiders sold a total of 82,898 shares of company stock worth $18,558,167 over the last three months. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Trading Up 0.4 %

LHX opened at $224.44 on Thursday. The stock has a market capitalization of $42.57 billion, a PE ratio of 36.44, a P/E/G ratio of 1.87 and a beta of 0.72. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $228.13. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The business’s 50 day moving average price is $220.29 and its 200 day moving average price is $213.05.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.86 earnings per share. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 12.93 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.