California Public Employees Retirement System Purchases 3,525 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

California Public Employees Retirement System raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 959,285 shares of the company’s stock after buying an additional 3,525 shares during the period. California Public Employees Retirement System’s holdings in L3Harris Technologies were worth $202,045,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. KB Financial Partners LLC boosted its position in shares of L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of L3Harris Technologies in the 3rd quarter worth $35,000. Blue Trust Inc. boosted its position in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares during the last quarter. Washington Trust Advisors Inc. boosted its position in shares of L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth $46,000. 84.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Swanson purchased 1,250 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 in the last quarter. Corporate insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on LHX shares. Royal Bank of Canada raised their price target on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Citigroup raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. UBS Group raised their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Finally, Raymond James raised their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.60.

L3Harris Technologies Stock Up 0.5 %

Shares of LHX traded up $1.12 during midday trading on Tuesday, hitting $209.26. The stock had a trading volume of 173,887 shares, compared to its average volume of 1,104,551. The company has a 50 day simple moving average of $210.24 and a two-hundred day simple moving average of $200.64. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The firm has a market cap of $39.78 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. L3Harris Technologies’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.27 EPS. On average, analysts anticipate that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s payout ratio is 72.05%.

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.