California State Teachers Retirement System Sells 3,402 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

California State Teachers Retirement System decreased its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 314,942 shares of the company's stock after selling 3,402 shares during the quarter. California State Teachers Retirement System owned about 0.17% of L3Harris Technologies worth $66,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after acquiring an additional 401,168 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of L3Harris Technologies by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock valued at $1,004,418,000 after acquiring an additional 53,787 shares during the last quarter. FMR LLC increased its stake in shares of L3Harris Technologies by 11.5% during the 4th quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after acquiring an additional 233,968 shares during the last quarter. Invesco Ltd. increased its stake in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after acquiring an additional 522,861 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of L3Harris Technologies during the 4th quarter valued at about $398,507,000. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded up $1.01 on Friday, reaching $244.43. The company's stock had a trading volume of 2,784,686 shares, compared to its average volume of 1,099,669. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company has a market cap of $45.70 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 2.42 and a beta of 0.72. The business's fifty day moving average price is $220.25 and its 200 day moving average price is $218.52. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the company posted $3.06 earnings per share. The firm's quarterly revenue was down 1.5% on a year-over-year basis. Equities analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.96%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's payout ratio is presently 56.94%.

Analysts Set New Price Targets

LHX has been the subject of a number of research reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Wells Fargo & Company decreased their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Finally, Morgan Stanley decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $256.56.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company's stock, valued at $632,122. This represents a 53.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. This trade represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,961 shares of company stock valued at $1,585,297. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Company 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.