Strs Ohio Sells 7,207 Shares of L3Harris Technologies Inc $LHX

Strs Ohio trimmed its holdings in L3Harris Technologies Inc (NYSE:LHX) by 6.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,167 shares of the company’s stock after selling 7,207 shares during the quarter. Strs Ohio owned about 0.06% of L3Harris Technologies worth $36,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Keybank National Association OH increased its stake in shares of L3Harris Technologies by 5.0% during the first quarter. Keybank National Association OH now owns 13,034 shares of the company’s stock valued at $4,499,000 after purchasing an additional 616 shares in the last quarter. Reliant Investment Management LLC grew its stake in shares of L3Harris Technologies by 0.6% in the 1st quarter. Reliant Investment Management LLC now owns 18,740 shares of the company’s stock worth $6,468,000 after buying an additional 120 shares during the last quarter. Root Financial Partners LLC increased its position in L3Harris Technologies by 70.9% during the 1st quarter. Root Financial Partners LLC now owns 634 shares of the company’s stock valued at $219,000 after buying an additional 263 shares in the last quarter. Petros Family Wealth LLC raised its stake in L3Harris Technologies by 13.5% during the first quarter. Petros Family Wealth LLC now owns 5,472 shares of the company’s stock valued at $1,889,000 after buying an additional 652 shares during the last quarter. Finally, Jacobsen Capital Management bought a new stake in L3Harris Technologies in the first quarter worth $220,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. UBS Group dropped their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Finally, Sanford C. Bernstein cut their target price on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Trading Down 0.3%

Shares of NYSE:LHX opened at $301.23 on Friday. The stock has a 50 day moving average of $305.85 and a 200 day moving average of $328.90. The company has a market cap of $56.12 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 1.53 and a beta of 0.51. L3Harris Technologies Inc has a 12-month low of $250.02 and a 12-month high of $379.23. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the prior year, the business posted $2.41 EPS. L3Harris Technologies’s revenue for the quarter was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. L3Harris Technologies’s dividend payout ratio is 54.29%.

Insider Activity

In related news, VP Melanie Rakita sold 2,180 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the sale, the vice president owned 4,192 shares in the company, valued at approximately $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by company insiders.

L3Harris Technologies Profile

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.