L3Harris Technologies Inc $LHX Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its position in L3Harris Technologies Inc (NYSE:LHX) by 2.1% in the first quarter, Holdings Channel.com reports. The fund owned 88,116 shares of the company’s stock after selling 1,920 shares during the period. Public Employees Retirement System of Ohio’s holdings in L3Harris Technologies were worth $30,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Fideuram Asset Management Ireland dac bought a new position in L3Harris Technologies during the fourth quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in L3Harris Technologies during the fourth quarter valued at $25,000. Motiv8 Investments LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at $25,000. American National Bank & Trust increased its stake in L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. Finally, Cedar Mountain Advisors LLC raised its holdings in shares of L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after purchasing an additional 74 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. UBS Group reduced their price target 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 lowered their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $361.70.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $300.08 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. The firm has a market capitalization of $55.90 billion, a PE ratio of 32.58, a P/E/G ratio of 1.52 and a beta of 0.51. L3Harris Technologies Inc has a 1-year low of $262.98 and a 1-year high of $379.23. The business’s fifty day moving average price is $299.36 and its two-hundred day moving average price is $328.58.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the previous year, the company posted $2.41 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, research analysts expect that L3Harris Technologies Inc will post 11.54 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $1.25 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 54.29%.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the business’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 completion of the transaction, the vice president directly owned 4,192 shares of the company’s stock, valued at $1,301,406.40. The trade was a 34.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by corporate insiders.

L3Harris Technologies 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.