L3Harris Technologies, Inc. (NYSE:LHX) Position Lessened by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 8.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,617 shares of the company’s stock after selling 501 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in L3Harris Technologies were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of LHX. Meeder Asset Management Inc. raised its holdings in L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares in the last quarter. Archer Investment Corp raised its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares in the last quarter. EntryPoint Capital LLC raised its holdings in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares in the last quarter. Kennebec Savings Bank bought a new position in L3Harris Technologies during the third quarter valued at about $36,000. Finally, Versant Capital Management Inc raised its holdings in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Down 0.5 %

LHX stock opened at $247.00 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The business’s 50-day simple moving average is $243.16 and its 200 day simple moving average is $232.14. The company has a market cap of $46.85 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $184.34 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LHX. Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Susquehanna raised their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, Citigroup raised their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $267.50.

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.