State of Tennessee Department of Treasury Sells 3,204 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

State of Tennessee Department of Treasury reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,281 shares of the company's stock after selling 3,204 shares during the quarter. State of Tennessee Department of Treasury's holdings in L3Harris Technologies were worth $15,830,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LHX. Measured Wealth Private Client Group LLC increased its stake in shares of L3Harris Technologies by 5.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock valued at $200,000 after acquiring an additional 50 shares in the last quarter. Premier Path Wealth Partners LLC increased its stake in L3Harris Technologies by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company's stock valued at $328,000 after purchasing an additional 51 shares in the last quarter. Belpointe Asset Management LLC increased its stake in L3Harris Technologies by 0.7% in the fourth quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock valued at $1,476,000 after purchasing an additional 52 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in shares of L3Harris Technologies by 2.2% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock valued at $514,000 after purchasing an additional 53 shares during the period. Finally, Klingman & Associates LLC boosted its position in shares of L3Harris Technologies by 2.8% during the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company's stock worth $406,000 after purchasing an additional 53 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the business's 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 sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares of the company's stock, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $214.88 on Wednesday. The firm has a market capitalization of $40.34 billion, a P/E ratio of 27.30, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The business's fifty day simple moving average is $209.44 and its 200 day simple moving average is $222.63. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month 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 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.23%. L3Harris Technologies's payout ratio is currently 60.99%.

Analysts Set New Price Targets

A number of analysts recently commented on LHX shares. UBS Group boosted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Barclays decreased their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. Bank of America decreased their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $257.50.

L3Harris Technologies Company 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.

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