South Dakota Investment Council Has $8.40 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

South Dakota Investment Council lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 39,868 shares of the company’s stock after buying an additional 500 shares during the period. South Dakota Investment Council’s holdings in L3Harris Technologies were worth $8,397,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. KB Financial Partners LLC boosted its holdings in L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. New England Capital Financial Advisors LLC bought a new position in L3Harris Technologies during the third quarter valued at about $35,000. Blue Trust Inc. raised its holdings in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after acquiring an additional 109 shares in the last quarter. Washington Trust Advisors Inc. lifted 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 acquiring an additional 79 shares during the period. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $46,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Scott T. Mikuen sold 3,363 shares of L3Harris Technologies stock in a transaction on Monday, March 18th. The stock was sold at an average price of $212.86, for a total value of $715,848.18. Following the completion of the transaction, the senior vice president now directly owns 55,254 shares in the company, valued at $11,761,366.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on LHX. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price on the stock in a research report on Thursday, January 11th. UBS Group increased their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Citigroup lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, Raymond James increased their target price on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $229.60.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded down $0.04 during midday trading on Wednesday, reaching $207.64. The company had a trading volume of 634,473 shares, compared to its average volume of 1,107,266. The stock has a fifty day simple moving average of $210.23 and a 200 day simple moving average of $200.95. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $39.47 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.93 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.27 earnings per share. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 annualized dividend and a yield of 2.23%. L3Harris Technologies’s dividend payout ratio is currently 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.