California State Teachers Retirement System Decreases Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

California State Teachers Retirement System trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.1% during the fourth quarter, Holdings Channel reports. The fund owned 314,942 shares of the company’s stock after selling 3,402 shares during the period. California State Teachers Retirement System’s holdings in L3Harris Technologies were worth $66,226,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Measured Wealth Private Client Group LLC raised its stake in shares of L3Harris Technologies by 5.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after buying an additional 50 shares during the period. Belpointe Asset Management LLC raised its stake in L3Harris Technologies by 0.7% in the 4th quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company’s stock valued at $1,476,000 after acquiring an additional 52 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in L3Harris Technologies by 2.2% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock valued at $514,000 after purchasing an additional 53 shares during the last quarter. Klingman & Associates LLC boosted its position in L3Harris Technologies by 2.8% during the fourth quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock worth $406,000 after purchasing an additional 53 shares during the period. Finally, CWC Advisors LLC. boosted its holdings in L3Harris Technologies by 2.1% in the 4th quarter. CWC Advisors LLC. now owns 2,596 shares of the company’s stock worth $546,000 after buying an additional 53 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Up 4.5%

NYSE:LHX opened at $248.15 on Wednesday. The company has a 50-day moving average price of $218.24 and a 200-day moving average price of $218.60. The stock has a market cap of $46.39 billion, a price-to-earnings ratio of 31.53, a P/E/G ratio of 2.42 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.06 earnings per share. Equities analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.93%. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

Insider Activity at L3Harris Technologies

In related news, 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 transaction of $377,068.84. Following the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LHX. Bank of America reduced their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Jefferies Financial Group cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Citigroup dropped their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, April 10th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and increased their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, Wells Fargo & Company lowered their target price on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $256.56.

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.