California Public Employees Retirement System Sells 133,890 Shares of L3Harris Technologies Inc $LHX

California Public Employees Retirement System cut its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 17.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 636,180 shares of the company’s stock after selling 133,890 shares during the period. California Public Employees Retirement System owned approximately 0.34% of L3Harris Technologies worth $159,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC lifted its stake in L3Harris Technologies by 2.7% in the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after purchasing an additional 37 shares during the last quarter. Fidelis Capital Partners LLC raised its holdings in shares of L3Harris Technologies by 2.2% in the second quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after buying an additional 39 shares during the period. Independence Bank of Kentucky lifted its stake in shares of L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its stake in shares of L3Harris Technologies by 3.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock worth $280,000 after acquiring an additional 40 shares during the last quarter. Finally, DB Fitzpatrick & Co Inc boosted its holdings in L3Harris Technologies by 1.0% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock valued at $1,116,000 after acquiring an additional 42 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Down 0.7%

NYSE LHX opened at $278.46 on Monday. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $308.12. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. The company has a market capitalization of $52.09 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 1.95 and a beta of 0.65. The company’s 50-day simple moving average is $289.28 and its two-hundred day simple moving average is $273.12.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were issued a $1.20 dividend. The ex-dividend date was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 51.56%.

Analysts Set New Price Targets

LHX has been the topic of a number of recent analyst reports. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Truist Financial raised their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. BNP Paribas Exane started coverage on shares of L3Harris Technologies in a report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price objective for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $295.00.

L3Harris Technologies 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.