Louisiana State Employees Retirement System Purchases Shares of 9,500 L3Harris Technologies Inc $LHX

Louisiana State Employees Retirement System acquired a new position in L3Harris Technologies Inc (NYSE:LHX) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 9,500 shares of the company’s stock, valued at approximately $3,279,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Korea Investment CORP grew its stake in shares of L3Harris Technologies by 11.2% in the 3rd quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock valued at $46,901,000 after purchasing an additional 15,408 shares during the period. Allstate Corp grew its position in L3Harris Technologies by 106.7% in the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock valued at $4,106,000 after acquiring an additional 7,219 shares during the period. Neo Ivy Capital Management bought a new stake in L3Harris Technologies in the third quarter valued at $1,203,000. Munich Reinsurance Co Stock Corp in Munich acquired a new position in L3Harris Technologies during the third quarter worth $72,446,000. Finally, Jain Global LLC raised its stake in L3Harris Technologies by 469.1% during the third quarter. Jain Global LLC now owns 45,861 shares of the company’s stock worth $14,006,000 after acquiring an additional 37,803 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction that occurred on 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 sale, the vice president owned 4,192 shares in the company, valued at $1,301,406.40. The trade was a 34.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on LHX shares. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Sanford C. Bernstein cut their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, UBS Group decreased their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $354.75.

L3Harris Technologies Stock Up 1.0%

Shares of LHX opened at $291.45 on Friday. The business’s fifty day moving average price is $310.84 and its two-hundred day moving average price is $328.53. The firm has a market capitalization of $54.29 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 1.47 and a beta of 0.50. L3Harris Technologies Inc has a 52 week low of $245.12 and a 52 week high of $379.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.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 firm’s quarterly revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, analysts predict that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. L3Harris Technologies’s dividend payout ratio (DPR) is 54.29%.

About L3Harris Technologies

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.