State of Alaska Department of Revenue Buys 7,590 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

State of Alaska Department of Revenue grew its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 34.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,628 shares of the company's stock after buying an additional 7,590 shares during the quarter. State of Alaska Department of Revenue's holdings in L3Harris Technologies were worth $6,229,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company's stock worth $1,122,630,000 after buying an additional 59,008 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company's stock worth $485,215,000 after purchasing an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in L3Harris Technologies by 5.9% during 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 lifted its holdings in L3Harris Technologies by 3.0% in the 3rd quarter. Raymond James & Associates now owns 984,888 shares of the company's stock worth $234,275,000 after purchasing an additional 28,882 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its stake in L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company's stock worth $195,704,000 after purchasing an additional 166,262 shares during the period. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Trading Down 0.9 %

LHX stock traded down $1.91 during mid-day trading on Tuesday, reaching $206.52. 1,480,512 shares of the stock traded hands, compared to its average volume of 1,272,282. The business has a 50-day moving average price of $216.27 and a two-hundred day moving average price of $230.92. The stock has a market capitalization of $39.17 billion, a PE ratio of 26.24, a PEG ratio of 1.75 and a beta of 0.76. 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, Inc. has a one year low of $200.18 and a one year high of $265.74.

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, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LHX shares. Morgan Stanley reduced their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Bank of America dropped their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Finally, UBS Group lifted their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $262.67.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the business's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now directly owns 6,812 shares of the company's stock, valued at $1,455,383.80. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 4,901 shares of company stock valued at $1,059,757. Insiders own 0.82% of the company's stock.

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.