Kentucky Retirement Systems Insurance Trust Fund Purchases New Holdings in L3Harris Technologies Inc (NYSE:LHX)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,507 shares of the company's stock, valued at approximately $1,153,000.

Other hedge funds also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC boosted its position in shares of L3Harris Technologies by 58.3% in the 4th quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company's stock worth $5,635,000 after buying an additional 9,873 shares in the last quarter. Brighton Jones LLC raised its position in L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after acquiring an additional 3,001 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of L3Harris Technologies by 6.7% in the fourth quarter. Principal Securities Inc. now owns 882 shares of the company's stock valued at $185,000 after purchasing an additional 55 shares in the last quarter. Sigma Planning Corp grew its position in shares of L3Harris Technologies by 2.2% in the fourth quarter. Sigma Planning Corp now owns 2,671 shares of the company's stock valued at $562,000 after purchasing an additional 58 shares during the last quarter. Finally, Olympiad Research LP purchased a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $237,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.6%

NYSE LHX traded up $1.55 during mid-day trading on Wednesday, hitting $248.20. The company's stock had a trading volume of 963,685 shares, compared to its average volume of 1,144,058. The firm has a market capitalization of $46.40 billion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 1.97 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $265.74. The stock's fifty day simple moving average is $233.22 and its two-hundred day simple moving average is $218.86.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.06 EPS. Research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is presently 56.94%.

Analyst Ratings Changes

LHX has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. UBS Group increased their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price objective for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Citigroup upped their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Jefferies Financial Group lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $258.75.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the transaction, the chief executive officer now directly owns 145,572 shares in the company, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider now directly owns 25,325 shares of the company's stock, valued at approximately $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.