Kentucky Retirement Systems Has $3.21 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Kentucky Retirement Systems cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,294 shares of the company’s stock after selling 100 shares during the period. Kentucky Retirement Systems’ holdings in L3Harris Technologies were worth $3,210,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of LHX. Capital World Investors lifted its stake in L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after acquiring an additional 3,308,506 shares in the last quarter. Vanguard Group Inc. lifted its stake in L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock valued at $4,251,683,000 after acquiring an additional 2,692,771 shares in the last quarter. Wellington Management Group LLP lifted its stake in L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after acquiring an additional 1,138,549 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in L3Harris Technologies during the 2nd quarter valued at $210,886,000. Finally, Bank of New York Mellon Corp lifted its stake in L3Harris Technologies by 54.5% during the 1st quarter. Bank of New York Mellon Corp now owns 2,650,866 shares of the company’s stock valued at $564,899,000 after acquiring an additional 934,935 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated 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 of the company’s stock, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. Insiders sold 29,402 shares of company stock valued at $6,861,855 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Up 0.3 %

Shares of L3Harris Technologies stock opened at $230.46 on Friday. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $245.60. The stock’s 50-day simple moving average is $231.31 and its 200 day simple moving average is $221.65. The stock has a market capitalization of $43.71 billion, a P/E ratio of 37.41, a P/E/G ratio of 1.95 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90.

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

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is presently 75.32%.

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their target price for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Barclays lifted their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.