State of Alaska Department of Revenue Has $5.24 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

State of Alaska Department of Revenue lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,038 shares of the company’s stock after buying an additional 1,415 shares during the quarter. State of Alaska Department of Revenue’s holdings in L3Harris Technologies were worth $5,242,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the period. EntryPoint Capital LLC increased its position in L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc raised its stake in L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the period. Family Firm Inc. bought a new position in L3Harris Technologies in the second quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in L3Harris Technologies in the second quarter valued at approximately $57,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $261.50.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares in the company, valued at $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Trading Down 1.2 %

Shares of LHX opened at $245.07 on Wednesday. L3Harris Technologies, Inc. has a fifty-two week low of $172.30 and a fifty-two week high of $258.89. The business has a 50-day moving average of $237.74 and a 200 day moving average of $228.12. The firm has a market cap of $46.49 billion, a P/E ratio of 39.78, a price-to-earnings-growth ratio of 2.10 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 posted its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the company earned $3.19 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

About L3Harris Technologies

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.