Arizona State Retirement System Acquires 715 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Arizona State Retirement System lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,108 shares of the company’s stock after purchasing an additional 715 shares during the quarter. Arizona State Retirement System’s holdings in L3Harris Technologies were worth $12,376,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Bfsg LLC purchased a new position in L3Harris Technologies in the 1st quarter worth approximately $25,000. Transcendent Capital Group LLC purchased a new position in L3Harris Technologies in the fourth quarter worth $28,000. EntryPoint Capital LLC increased its stake in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the last quarter. Versant Capital Management Inc raised its position in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in L3Harris Technologies during the second quarter worth about $45,000. 84.76% of the stock is currently owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the sale, the insider now owns 16,316 shares in the company, valued at $3,861,670.88. The disclosure for this sale can be found here. Insiders have sold 36,110 shares of company stock worth $8,319,939 in the last quarter. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Down 1.8 %

Shares of L3Harris Technologies stock opened at $227.23 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60. The company has a market cap of $43.10 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. The company’s 50 day moving average is $230.60 and its 200 day moving average is $220.59.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the prior year, the firm earned $2.97 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. Research analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is currently 75.32%.

Wall Street Analyst Weigh In

LHX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their target price for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Barclays raised their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Susquehanna upped their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $247.08.

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.