L3Harris Technologies Inc $LHX Shares Sold by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System cut its L3Harris stake by 7.4% in the first quarter, selling 37,005 shares and ending with 459,901 shares worth about $158.7 million.
• L3Harris reported better-than-expected quarterly results, with EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion versus $5.42 billion estimated, while raising its FY 2026 guidance to $11.40-$11.60 EPS.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $354.75, even though some firms recently trimmed targets or ratings.

California Public Employees Retirement System decreased its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 459,901 shares of the company's stock after selling 37,005 shares during the quarter. California Public Employees Retirement System owned about 0.25% of L3Harris Technologies worth $158,735,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LHX. Brighton Jones LLC boosted its position in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after purchasing an additional 3,001 shares in the last quarter. Jump Financial LLC increased its holdings in shares of L3Harris Technologies by 14.9% in the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company's stock valued at $751,000 after purchasing an additional 388 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of L3Harris Technologies by 14.2% in the second quarter. NewEdge Advisors LLC now owns 17,082 shares of the company's stock valued at $4,285,000 after purchasing an additional 2,130 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of L3Harris Technologies in the second quarter valued at about $856,000. Finally, CIBC Asset Management Inc boosted its holdings in L3Harris Technologies by 116.2% during the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company's stock worth $15,549,000 after buying an additional 33,321 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the transaction, the vice president directly owned 4,192 shares in the company, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group lowered their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. Sanford C. Bernstein decreased their price target on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Finally, Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $354.75.

L3Harris Technologies Price Performance

LHX stock opened at $282.22 on Friday. The stock's 50 day moving average price is $301.05 and its 200 day moving average price is $328.86. The firm has a market cap of $52.58 billion, a P/E ratio of 30.64, a PEG ratio of 1.43 and a beta of 0.51. 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 Inc has a 1 year low of $260.22 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping the consensus estimate 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 last year, the business posted $2.41 earnings per share. L3Harris Technologies's revenue was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, sell-side analysts expect that L3Harris Technologies Inc will post 11.53 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. L3Harris Technologies's dividend payout ratio (DPR) is presently 54.29%.

L3Harris Technologies Profile

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.

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