New York State Common Retirement Fund Has $55.92 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

New York State Common Retirement Fund reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 265,501 shares of the company’s stock after selling 20,278 shares during the period. New York State Common Retirement Fund’s holdings in L3Harris Technologies were worth $55,920,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LHX. KB Financial Partners LLC raised its stake in L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after buying an additional 82 shares during the period. New England Capital Financial Advisors LLC acquired a new position in L3Harris Technologies during the 3rd quarter worth approximately $35,000. Blue Trust Inc. raised its stake in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares during the last quarter. Washington Trust Advisors Inc. raised its stake in shares of L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth approximately $46,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director William H. Swanson purchased 1,250 shares of the stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director William H. Swanson purchased 1,250 shares of the stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,362 shares of company stock worth $10,261,360. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research note on Monday. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Citigroup increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, Royal Bank of Canada increased their price objective on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $229.60.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $207.62 on Wednesday. The stock has a fifty day simple moving average of $210.23 and a two-hundred day simple moving average of $200.95. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The firm has a market cap of $39.47 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.93 and a beta of 0.65. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the company earned $3.27 earnings per share. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. Analysts anticipate that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.23%. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

About L3Harris Technologies

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.