New York State Teachers Retirement System Cuts Position in L3Harris Technologies, Inc. (NYSE:LHX)

New York State Teachers Retirement System lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 3.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 153,771 shares of the company’s stock after selling 6,223 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of L3Harris Technologies worth $36,578,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LHX. Meeder Asset Management Inc. lifted its stake in shares of 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 buying an additional 86 shares in the last quarter. EntryPoint Capital LLC lifted its stake in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares in the last quarter. Family Firm Inc. bought a new position in shares of L3Harris Technologies in the second quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies in the second quarter worth approximately $57,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.8 %

LHX opened at $247.47 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a 1-year low of $176.15 and a 1-year high of $258.89. The company has a market capitalization of $46.95 billion, a PE ratio of 40.17, a PEG ratio of 2.10 and a beta of 0.73. The firm’s 50 day simple moving average is $238.37 and its two-hundred day simple moving average is $228.37.

L3Harris Technologies (NYSE:LHX) last released its quarterly 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 business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the firm earned $3.19 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LHX. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, October 10th. Susquehanna increased their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Finally, Truist Financial increased their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Company 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.