Public Employees Retirement Association of Colorado Trims Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Public Employees Retirement Association of Colorado lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,169 shares of the company’s stock after selling 554 shares during the period. Public Employees Retirement Association of Colorado’s holdings in L3Harris Technologies were worth $5,877,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. 9258 Wealth Management LLC lifted its position in L3Harris Technologies by 20.0% during the fourth quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock valued at $921,000 after purchasing an additional 727 shares during the last quarter. Rollins Financial bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $217,000. Gryphon Financial Partners LLC grew its position in L3Harris Technologies by 26.1% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,808 shares of the company’s stock worth $384,000 after acquiring an additional 374 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in L3Harris Technologies by 11.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 35,682 shares of the company’s stock valued at $7,515,000 after acquiring an additional 3,596 shares during the last quarter. Finally, Commerce Bank raised its position in L3Harris Technologies by 0.8% during the fourth quarter. Commerce Bank now owns 19,127 shares of the company’s stock valued at $4,029,000 after purchasing an additional 148 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the transaction, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The disclosure for this sale can be found here. Insiders sold a total of 29,402 shares of company stock valued at $6,861,855 over the last three months. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 1.2 %

Shares of NYSE:LHX opened at $233.21 on Monday. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The stock’s 50-day moving average is $231.36 and its 200 day moving average is $221.87. The company has a market cap of $44.24 billion, a PE ratio of 37.86, a P/E/G ratio of 1.95 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the previous year, the firm earned $2.97 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s payout ratio is currently 75.32%.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research reports. Wells Fargo & Company cut their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Barclays increased their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Susquehanna boosted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

L3Harris Technologies Profile

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.