Public Employees Retirement System of Ohio Sells 608 Shares of L3Harris Technologies Inc $LHX

Public Employees Retirement System of Ohio reduced its stake in L3Harris Technologies Inc (NYSE:LHX) by 0.7% during the second quarter, Holdings Channel.com reports. The firm owned 86,247 shares of the company’s stock after selling 608 shares during the period. Public Employees Retirement System of Ohio’s holdings in L3Harris Technologies were worth $21,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Clearstead Trust LLC purchased a new position in shares of L3Harris Technologies in the first quarter worth $26,000. Nova Wealth Management Inc. bought a new stake in L3Harris Technologies in the 1st quarter worth $26,000. Beacon Capital Management LLC increased its position in shares of L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Park Square Financial Group LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 195,138 shares of company stock worth $53,571,774 in the last ninety days. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $289.25 on Friday. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $290.90. The firm has a market capitalization of $54.12 billion, a P/E ratio of 32.32, a P/E/G ratio of 2.08 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $275.32 and a two-hundred day simple moving average of $245.98.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the prior year, the firm earned $3.24 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research analyst reports. UBS Group boosted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Robert W. Baird raised their price target on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Susquehanna boosted their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $279.47.

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.