New York State Teachers Retirement System Cuts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

New York State Teachers Retirement System reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 151,191 shares of the company's stock after selling 2,580 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of L3Harris Technologies worth $31,792,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company's stock valued at $1,122,630,000 after acquiring an additional 59,008 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in L3Harris Technologies by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company's stock valued at $485,215,000 after acquiring an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA grew its position in L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company's stock valued at $366,875,000 after purchasing an additional 85,882 shares during the period. Raymond James & Associates raised its holdings in L3Harris Technologies by 3.0% during the third quarter. Raymond James & Associates now owns 984,888 shares of the company's stock worth $234,275,000 after buying an additional 28,882 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its stake in shares of L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock valued at $195,704,000 after buying an additional 166,262 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded down $0.90 during trading hours on Wednesday, reaching $194.80. The company had a trading volume of 1,509,081 shares, compared to its average volume of 1,342,474. L3Harris Technologies, Inc. has a one year low of $194.25 and a one year high of $265.74. The firm has a market cap of $36.95 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The business has a fifty day simple moving average of $211.97 and a 200 day simple moving average of $229.72.

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

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,373 shares of the business's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last ninety days. 0.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citigroup cut their target price on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Truist Financial reduced their price objective on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Argus raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. StockNews.com upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Finally, Susquehanna dropped their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $262.67.

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.