L3Harris Technologies Inc (NYSE:LHX) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,938 shares of the company's stock after selling 14,400 shares during the period. New York State Common Retirement Fund owned about 0.05% of L3Harris Technologies worth $20,290,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LHX. Invesco Ltd. grew its stake in L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after purchasing an additional 522,861 shares during the last quarter. GAMMA Investing LLC grew its stake in L3Harris Technologies by 18,295.3% in the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock valued at $107,424,000 after purchasing an additional 510,438 shares during the last quarter. Vanguard Group Inc. grew its stake in L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in L3Harris Technologies by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock valued at $486,898,000 after purchasing an additional 311,886 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in L3Harris Technologies by 64.2% in the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock valued at $155,691,000 after purchasing an additional 289,514 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the sale, the chief executive officer directly owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. This trade represents a 18.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LHX shares. UBS Group boosted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a report on Monday. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Wells Fargo & Company dropped their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Susquehanna set a $300.00 price target on L3Harris Technologies and gave the stock a "positive" rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target of $263.81.

L3Harris Technologies Stock Up 1.0%

NYSE LHX traded up $2.60 during trading hours on Thursday, hitting $266.26. 843,410 shares of the company were exchanged, compared to its average volume of 1,159,687. The company has a 50 day moving average of $244.78 and a two-hundred day moving average of $222.76. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $266.43. The firm has a market cap of $49.78 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.04 and a beta of 0.75.

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

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.