L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,760 shares of the company's stock after selling 5,040 shares during the quarter. Public Employees Retirement System of Ohio's holdings in L3Harris Technologies were worth $16,351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of L3Harris Technologies by 5.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,622 shares of the company's stock valued at $15,692,000 after buying an additional 4,150 shares in the last quarter. Vise Technologies Inc. purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $200,000. Novem Group purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $404,000. CSS LLC IL purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $315,000. Finally, Waverly Advisors LLC increased its position in shares of L3Harris Technologies by 114.1% during the fourth quarter. Waverly Advisors LLC now owns 8,868 shares of the company's stock worth $1,865,000 after purchasing an additional 4,726 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LHX shares. JPMorgan Chase & Co. lowered their price objective on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group lowered their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Truist Financial lowered their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Bank of America lowered their price objective on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $256.56.

Insider Activity

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded down $3.44 during trading on Wednesday, hitting $244.46. 2,804,750 shares of the company were exchanged, compared to its average volume of 1,087,336. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The stock has a market capitalization of $45.70 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 2.42 and a beta of 0.72. The firm has a 50 day moving average price of $218.24 and a 200 day moving average price of $218.60. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

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 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 analysts' expectations of $5.29 billion. During the same period in the previous year, the firm posted $3.06 earnings per share. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is currently 56.94%.

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.