California Public Employees Retirement System Purchases 6,096 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

California Public Employees Retirement System lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 780,128 shares of the company’s stock after buying an additional 6,096 shares during the period. California Public Employees Retirement System owned about 0.41% of L3Harris Technologies worth $164,045,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LHX. Raymond James Financial Inc. bought a new position in L3Harris Technologies during the 4th quarter valued at about $398,507,000. Vanguard Group Inc. raised its holdings in shares of L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Boston Partners lifted its position in L3Harris Technologies by 20.2% during the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after purchasing an additional 198,243 shares during the period. National Pension Service boosted its holdings in L3Harris Technologies by 42.1% in the fourth quarter. National Pension Service now owns 606,047 shares of the company’s stock worth $127,440,000 after purchasing an additional 179,539 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on LHX. Royal Bank of Canada restated a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. UBS Group upped their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Bank of America dropped their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $261.40.

L3Harris Technologies Trading Down 2.5 %

Shares of LHX stock opened at $207.46 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $38.94 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The stock’s 50-day moving average price is $209.34 and its 200-day moving average price is $225.51.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $1.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.31%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.