L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Bailard Inc.

Bailard Inc. reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 13.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,909 shares of the company’s stock after selling 4,262 shares during the quarter. Bailard Inc.’s holdings in L3Harris Technologies were worth $5,878,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Manning & Napier Group LLC raised its position in shares of L3Harris Technologies by 58.6% during the 3rd quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock worth $180,071,000 after acquiring an additional 381,997 shares in the last quarter. Mondrian Investment Partners LTD raised its holdings in L3Harris Technologies by 32,907.5% during the third quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock worth $66,208,000 after purchasing an additional 379,094 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in L3Harris Technologies by 53.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock worth $179,709,000 after purchasing an additional 296,654 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of L3Harris Technologies by 22.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after acquiring an additional 266,468 shares during the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in shares of L3Harris Technologies in the third quarter worth $35,207,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LHX has been the subject of a number of research reports. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a research report on Thursday, January 11th. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Royal Bank of Canada upped their target price on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a report on Monday. Finally, Citigroup boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $229.60.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares in the company, valued at $332,285.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 in the last ninety days. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded down $0.39 during trading on Thursday, hitting $207.32. 681,370 shares of the company’s stock traded hands, compared to its average volume of 1,106,853. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. The firm’s fifty day moving average price is $210.19 and its 200 day moving average price is $200.99. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a market cap of $39.41 billion, a PE ratio of 32.25, a PEG ratio of 1.93 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the firm posted $3.27 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. Analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

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.