Public Sector Pension Investment Board Has $20.23 Million Stake in L3Harris Technologies Inc $LHX

Public Sector Pension Investment Board increased its position in L3Harris Technologies Inc (NYSE:LHX) by 368.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,222 shares of the company’s stock after purchasing an additional 52,079 shares during the period. Public Sector Pension Investment Board’s holdings in L3Harris Technologies were worth $20,225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LHX. Harbor Asset Planning Inc. acquired a new position in shares of L3Harris Technologies during the second quarter valued at about $32,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter worth about $34,000. Salomon & Ludwin LLC bought a new position in L3Harris Technologies in the 3rd quarter valued at about $34,000. Rakuten Securities Inc. boosted its stake in L3Harris Technologies by 234.8% during the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock valued at $39,000 after purchasing an additional 108 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in L3Harris Technologies during the 3rd quarter worth approximately $42,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $338.85, for a total value of $1,640,034.00. Following the transaction, the insider owned 5,916 shares in the company, valued at approximately $2,004,636.60. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $345.07 on Friday. The company’s 50-day moving average is $321.69 and its 200 day moving average is $296.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The company has a market capitalization of $64.55 billion, a P/E ratio of 40.45, a price-to-earnings-growth ratio of 2.45 and a beta of 0.64. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $369.59.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.47 earnings per share. On average, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $1.25 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies’s payout ratio is presently 56.27%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LHX shares. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, February 6th. Wall Street Zen downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Morgan Stanley boosted their price target on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.