L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 959,285 shares of the company’s stock after purchasing an additional 3,525 shares during the quarter. California Public Employees Retirement System owned 0.51% of L3Harris Technologies worth $202,045,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. GDS Wealth Management grew its position in L3Harris Technologies by 184.5% in the 3rd quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock valued at $15,692,000 after acquiring an additional 58,441 shares in the last quarter. Sapient Capital LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at about $1,198,000. Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at about $46,000. Ceredex Value Advisors LLC grew its position in L3Harris Technologies by 14.1% in the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock valued at $117,315,000 after acquiring an additional 83,319 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at about $1,125,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Wells Fargo & Company decreased their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday. Finally, JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $229.60.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other L3Harris Technologies news, Director William H. Swanson purchased 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the purchase, the director now owns 1,543 shares in the company, valued at $332,285.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders have sold a total of 48,362 shares of company stock valued at $10,261,360 over the last quarter. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock traded up $1.12 on Tuesday, reaching $209.26. 173,887 shares of the company’s stock were exchanged, compared to its average volume of 1,104,551. The stock has a fifty day moving average of $210.24 and a 200-day 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 PE ratio of 32.32, a P/E/G ratio of 1.91 and a beta of 0.65. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last posted its earnings results 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 for the quarter, compared to analyst estimates 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 was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.27 earnings per share. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s 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.