L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,834 shares of the company’s stock after buying an additional 61 shares during the quarter. Retirement Systems of Alabama’s holdings in L3Harris Technologies were worth $8,915,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. HB Wealth Management LLC boosted its position in L3Harris Technologies by 18.6% during the 1st quarter. HB Wealth Management LLC now owns 3,923 shares of the company’s stock worth $836,000 after acquiring an additional 615 shares during the period. SpiderRock Advisors LLC acquired a new stake in L3Harris Technologies in the first quarter worth about $1,242,000. Mill Capital Management LLC grew its position in L3Harris Technologies by 0.7% in the 1st quarter. Mill Capital Management LLC now owns 59,611 shares of the company’s stock valued at $12,703,000 after buying an additional 414 shares in the last quarter. Naples Global Advisors LLC increased its stake in L3Harris Technologies by 1.3% during the 1st quarter. Naples Global Advisors LLC now owns 7,139 shares of the company’s stock valued at $1,521,000 after buying an additional 95 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in shares of L3Harris Technologies by 32.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 90,521 shares of the company’s stock worth $19,290,000 after acquiring an additional 22,115 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LHX. JPMorgan Chase & Co. lifted their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Wells Fargo & Company increased their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a report on Monday, April 22nd. Royal Bank of Canada boosted their target price on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, Barclays raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $231.80.

Insider Activity

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares in the company, valued at approximately $3,823,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the transaction, the vice president now directly owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,086,585.86. The disclosure for this sale can be found here. Insiders have sold 82,898 shares of company stock worth $18,558,167 in the last 90 days. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Trading Down 0.2 %

Shares of LHX stock traded down $0.51 on Friday, reaching $224.07. The company had a trading volume of 483,225 shares, compared to its average volume of 1,001,924. The company has a 50-day moving average of $220.97 and a 200-day moving average of $213.21. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $228.13. The stock has a market cap of $42.50 billion, a PE ratio of 36.46, a PEG ratio of 1.88 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same period last year, the business posted $2.86 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 12.96 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio 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.