California Public Employees Retirement System Buys 6,096 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

California Public Employees Retirement System grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 780,128 shares of the company's stock after buying an additional 6,096 shares during the period. California Public Employees Retirement System owned 0.41% of L3Harris Technologies worth $164,045,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Fisher Asset Management LLC boosted its stake in L3Harris Technologies by 16.5% during the third quarter. Fisher Asset Management LLC now owns 1,555 shares of the company's stock worth $370,000 after acquiring an additional 220 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of L3Harris Technologies by 18.5% in the 3rd quarter. Townsquare Capital LLC now owns 3,502 shares of the company's stock worth $833,000 after purchasing an additional 547 shares in the last quarter. Glenmede Trust Co. NA grew its stake in shares of L3Harris Technologies by 1.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 21,680 shares of the company's stock worth $5,157,000 after buying an additional 314 shares during the last quarter. CreativeOne Wealth LLC increased its position in L3Harris Technologies by 27.6% during the 3rd quarter. CreativeOne Wealth LLC now owns 3,523 shares of the company's stock valued at $838,000 after buying an additional 762 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in L3Harris Technologies by 1.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,003 shares of the company's stock valued at $13,559,000 after buying an additional 565 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

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L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded down $7.92 on Friday, hitting $202.03. 3,081,641 shares of the company's stock were exchanged, compared to its average volume of 965,054. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a 50-day simple moving average of $208.20 and a 200-day simple moving average of $224.83. The stock has a market capitalization of $37.92 billion, a PE ratio of 25.67, a PEG ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $1.20 per share. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a yield of 2.38%. L3Harris Technologies's dividend payout ratio (DPR) is presently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company's stock, valued at $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Analyst Ratings Changes

LHX has been the topic of a number of recent research reports. Bank of America cut their target price 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. Truist Financial reduced their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $269.00 to $268.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. reduced their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and lowered their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $260.69.

About L3Harris Technologies

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.