Teachers Retirement System of The State of Kentucky Acquires 21,708 Shares of L3Harris Technologies Inc $LHX

Teachers Retirement System of The State of Kentucky raised its holdings in L3Harris Technologies Inc (NYSE:LHX) by 146.5% during the first quarter, Holdings Channel reports. The institutional investor owned 36,528 shares of the company’s stock after buying an additional 21,708 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in L3Harris Technologies were worth $12,608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares in the last quarter. Jump Financial LLC boosted its position in shares of L3Harris Technologies by 14.9% during the second quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock valued at $751,000 after buying an additional 388 shares during the last quarter. NewEdge Advisors LLC raised its position in L3Harris Technologies by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock valued at $4,285,000 after buying an additional 2,130 shares during the last quarter. Nebula Research & Development LLC bought a new position in L3Harris Technologies during the 2nd quarter valued at $856,000. Finally, CIBC Asset Management Inc boosted its holdings in L3Harris Technologies by 116.2% during the 2nd quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock worth $15,549,000 after acquiring an additional 33,321 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LHX. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. UBS Group dropped their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Sanford C. Bernstein cut their target price on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Finally, Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $354.75.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the sale, the vice president directly owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.68% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $288.68 on Tuesday. L3Harris Technologies Inc has a 12 month low of $257.35 and a 12 month high of $379.23. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. The business’s 50 day simple moving average is $302.32 and its 200 day simple moving average is $329.43. The company has a market cap of $53.78 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 1.47 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.53 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.00 annualized dividend and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is 54.29%.

About L3Harris Technologies

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.