Kentucky Retirement Systems Decreases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Kentucky Retirement Systems lowered its holdings in L3Harris Technologies, Inc. (NYSE:LHXGet Rating) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,179 shares of the company’s stock after selling 109 shares during the quarter. Kentucky Retirement Systems’ holdings in L3Harris Technologies were worth $2,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital World Investors grew its holdings in shares of L3Harris Technologies by 80.6% in the third quarter. Capital World Investors now owns 11,965,226 shares of the company’s stock worth $2,635,221,000 after acquiring an additional 5,341,175 shares during the period. Geode Capital Management LLC grew its holdings in shares of L3Harris Technologies by 5.2% in the third quarter. Geode Capital Management LLC now owns 3,344,378 shares of the company’s stock worth $734,454,000 after acquiring an additional 166,151 shares during the period. Wellington Management Group LLP grew its holdings in L3Harris Technologies by 329.6% during the third quarter. Wellington Management Group LLP now owns 2,809,511 shares of the company’s stock valued at $618,766,000 after purchasing an additional 2,155,533 shares during the period. Brown Advisory Inc. grew its holdings in L3Harris Technologies by 3.3% during the fourth quarter. Brown Advisory Inc. now owns 2,369,023 shares of the company’s stock valued at $505,170,000 after purchasing an additional 76,789 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in L3Harris Technologies by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,137,149 shares of the company’s stock valued at $470,685,000 after purchasing an additional 24,848 shares during the period. 80.70% of the stock is owned by institutional investors.

In other L3Harris Technologies news, insider Edward J. Zoiss sold 4,730 shares of the company’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $220.00, for a total transaction of $1,040,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

LHX has been the subject of several recent research reports. Raymond James cut their price target on L3Harris Technologies from $250.00 to $243.00 and set an “outperform” rating for the company in a report on Wednesday, February 2nd. TheStreet raised L3Harris Technologies from a “c” rating to a “b-” rating in a report on Monday, January 31st. Wells Fargo & Company boosted their price target on L3Harris Technologies from $240.00 to $291.00 and gave the company an “overweight” rating in a report on Monday, March 7th. Susquehanna Bancshares cut their price target on L3Harris Technologies from $264.00 to $255.00 and set a “positive” rating for the company in a report on Tuesday, February 1st. Finally, StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of “Buy” and an average target price of $252.73.

NYSE:LHX opened at $257.62 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.18 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $49.74 billion, a P/E ratio of 28.51, a P/E/G ratio of 4.32 and a beta of 0.76. L3Harris Technologies, Inc. has a 12 month low of $200.71 and a 12 month high of $279.71. The business’s 50-day moving average is $245.86 and its 200 day moving average is $229.61.

L3Harris Technologies (NYSE:LHXGet Rating) last posted its earnings results on Monday, January 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.25 by $0.05. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.47 billion. L3Harris Technologies had a return on equity of 13.26% and a net margin of 10.36%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.14 earnings per share. On average, research analysts forecast that L3Harris Technologies, Inc. will post 13.57 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 11th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Thursday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.02. This represents a $4.48 dividend on an annualized basis and a yield of 1.74%. L3Harris Technologies’s dividend payout ratio is 49.18%.

L3Harris Technologies Profile (Get Rating)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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