State of Tennessee Department of Treasury Sells 3,204 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

State of Tennessee Department of Treasury lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,281 shares of the company's stock after selling 3,204 shares during the quarter. State of Tennessee Department of Treasury's holdings in L3Harris Technologies were worth $15,830,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LHX. Measured Wealth Private Client Group LLC boosted its stake in shares of L3Harris Technologies by 5.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock worth $200,000 after buying an additional 50 shares during the last quarter. Premier Path Wealth Partners LLC boosted its position in L3Harris Technologies by 3.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company's stock valued at $328,000 after purchasing an additional 51 shares during the last quarter. Belpointe Asset Management LLC increased its position in shares of L3Harris Technologies by 0.7% during the 4th quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock worth $1,476,000 after purchasing an additional 52 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of L3Harris Technologies by 2.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock worth $514,000 after purchasing an additional 53 shares in the last quarter. Finally, Klingman & Associates LLC boosted its holdings in shares of L3Harris Technologies by 2.8% in the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company's stock valued at $406,000 after buying an additional 53 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LHX shares. Royal Bank of Canada restated a "sector perform" rating and set a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Jefferies Financial Group lowered their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and lowered their price target for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, UBS Group raised their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $257.25.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 directly owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded up $1.50 during trading on Monday, reaching $217.58. The company's stock had a trading volume of 339,335 shares, compared to its average volume of 1,010,975. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The firm has a market cap of $40.84 billion, a PE ratio of 27.58, a P/E/G ratio of 2.42 and a beta of 0.71. The business's 50-day moving average price is $210.58 and its 200-day moving average price is $221.96. 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 posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.55 by ($0.14). L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. Equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's payout ratio is presently 60.99%.

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.