Strs Ohio Sells 42,328 Shares of L3Harris Technologies Inc $LHX

Strs Ohio cut its holdings in L3Harris Technologies Inc (NYSE:LHX) by 23.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 138,966 shares of the company’s stock after selling 42,328 shares during the period. Strs Ohio’s holdings in L3Harris Technologies were worth $42,442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after buying an additional 3,001 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of L3Harris Technologies during the 2nd quarter valued at $1,317,000. Farther Finance Advisors LLC boosted its stake in L3Harris Technologies by 22.4% during the second quarter. Farther Finance Advisors LLC now owns 2,047 shares of the company’s stock worth $514,000 after acquiring an additional 375 shares in the last quarter. Ballentine Partners LLC boosted its stake in L3Harris Technologies by 5.7% during the second quarter. Ballentine Partners LLC now owns 3,493 shares of the company’s stock worth $876,000 after acquiring an additional 188 shares in the last quarter. Finally, Dakota Wealth Management grew its holdings in L3Harris Technologies by 0.6% in the second quarter. Dakota Wealth Management now owns 26,038 shares of the company’s stock worth $6,531,000 after purchasing an additional 163 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.3%

NYSE LHX opened at $354.66 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $301.06 and a 200 day simple moving average of $288.05. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $361.59. The firm has a market capitalization of $66.34 billion, a P/E ratio of 38.09, a PEG ratio of 2.21 and a beta of 0.66.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.10. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $1.25 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is 51.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LHX shares. UBS Group increased their price objective on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Truist Financial set a $364.00 price target on L3Harris Technologies in a report on Wednesday, January 14th. Wall Street Zen downgraded L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Finally, BNP Paribas Exane upgraded shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $315.73.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer owned 144,426 shares of the company’s stock, valued at $43,479,447.30. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.