Teachers Retirement System of The State of Kentucky Buys New Position in L3Harris Technologies, Inc. (NYSE:LHX)

Teachers Retirement System of The State of Kentucky purchased a new position in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,868 shares of the company’s stock, valued at approximately $3,714,000.

A number of other hedge funds have also modified their holdings of the company. Grimes & Company Inc. boosted its position in shares of L3Harris Technologies by 3.4% in the third quarter. Grimes & Company Inc. now owns 1,236 shares of the company’s stock worth $257,000 after purchasing an additional 41 shares during the period. Oakworth Capital Inc. boosted its position in shares of L3Harris Technologies by 8.6% in the third quarter. Oakworth Capital Inc. now owns 543 shares of the company’s stock worth $113,000 after purchasing an additional 43 shares during the period. Leavell Investment Management Inc. boosted its position in shares of L3Harris Technologies by 0.8% in the third quarter. Leavell Investment Management Inc. now owns 6,081 shares of the company’s stock worth $1,264,000 after purchasing an additional 46 shares during the period. Main Street Financial Solutions LLC boosted its position in shares of L3Harris Technologies by 3.8% in the third quarter. Main Street Financial Solutions LLC now owns 1,289 shares of the company’s stock worth $268,000 after purchasing an additional 47 shares during the period. Finally, Phoenix Wealth Advisors boosted its position in shares of L3Harris Technologies by 3.3% in the third quarter. Phoenix Wealth Advisors now owns 1,514 shares of the company’s stock worth $315,000 after purchasing an additional 48 shares during the period. 82.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Truist Financial dropped their price target on shares of L3Harris Technologies from $264.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, January 30th. Wells Fargo & Company boosted their target price on shares of L3Harris Technologies from $219.00 to $230.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. TheStreet downgraded shares of L3Harris Technologies from a “b-” rating to a “c+” rating in a report on Tuesday, November 22nd. Susquehanna boosted their target price on shares of L3Harris Technologies from $265.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, January 30th. Finally, Credit Suisse Group lowered their target price on shares of L3Harris Technologies from $244.00 to $240.00 and set an “outperform” rating on the stock in a report on Friday, January 20th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $259.46.

L3Harris Technologies Trading Down 3.5 %

Shares of LHX opened at $195.25 on Friday. L3Harris Technologies, Inc. has a twelve month low of $189.73 and a twelve month high of $264.71. The company has a market cap of $37.09 billion, a P/E ratio of 35.69, a P/E/G ratio of 6.32 and a beta of 0.71. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $206.37 and its 200-day simple moving average is $218.06.

L3Harris Technologies (NYSE:LHX – Get Rating) last announced its earnings results on Friday, January 27th. The company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.06. L3Harris Technologies had a net margin of 6.22% and a return on equity of 13.20%. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the prior year, the firm posted $3.30 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts expect that L3Harris Technologies, Inc. will post 12.32 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be paid a $1.14 dividend. The ex-dividend date is Thursday, March 9th. This represents a $4.56 annualized dividend and a dividend yield of 2.34%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.12. L3Harris Technologies’s dividend payout ratio is currently 83.36%.

L3Harris Technologies Profile

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L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.