L3Harris Technologies Inc $LHX Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama grew its holdings in L3Harris Technologies Inc (NYSE:LHX) by 21.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,790 shares of the company’s stock after purchasing an additional 29,252 shares during the quarter. Retirement Systems of Alabama’s holdings in L3Harris Technologies were worth $39,493,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fulcrum Asset Management LLP acquired a new position in L3Harris Technologies during the third quarter worth $69,000. Allspring Global Investments Holdings LLC grew its holdings in L3Harris Technologies by 6.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 447,754 shares of the company’s stock valued at $106,745,000 after buying an additional 25,742 shares in the last quarter. Accuvest Global Advisors grew its holdings in L3Harris Technologies by 46.0% in the 3rd quarter. Accuvest Global Advisors now owns 1,740 shares of the company’s stock valued at $412,000 after buying an additional 548 shares in the last quarter. StoneRidge PMG Advisors LLC purchased a new stake in L3Harris Technologies in the 3rd quarter valued at $330,000. Finally, Bryn Mawr Trust Advisors LLC acquired a new stake in shares of L3Harris Technologies in the 3rd quarter worth $4,814,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LHX shares. Argus lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 25th. Citigroup started coverage on shares of L3Harris Technologies in a research report on Monday. They set a “buy” rating and a $348.00 price target on the stock. The Goldman Sachs Group dropped their price objective on shares of L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating for the company in a report on Monday, October 12th. Bank of America raised their price objective on shares of L3Harris Technologies from $325.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $340.93.

L3Harris Technologies Price Performance

NYSE:LHX opened at $276.28 on Wednesday. L3Harris Technologies Inc has a 52 week low of $232.34 and a 52 week high of $379.23. The company has a quick ratio of 1.05, a current ratio of 1.20 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $51.44 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.66 and a beta of 0.47. The stock’s fifty day moving average is $250.52 and its two-hundred day moving average is $302.40.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.33. The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.92 billion. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business earned $2.70 earnings per share. Equities analysts expect that L3Harris Technologies Inc will post 12.10 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 46.64%.

About L3Harris Technologies

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.