Bailard Inc. Sells 4,262 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Bailard Inc. cut its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 13.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,909 shares of the company’s stock after selling 4,262 shares during the period. Bailard Inc.’s holdings in L3Harris Technologies were worth $5,878,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of L3Harris Technologies by 7.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,438 shares of the company’s stock valued at $935,000 after buying an additional 292 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of L3Harris Technologies by 1.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 11,551 shares of the company’s stock valued at $2,433,000 after buying an additional 187 shares during the last quarter. Carret Asset Management LLC lifted its position in shares of L3Harris Technologies by 0.6% during the fourth quarter. Carret Asset Management LLC now owns 16,480 shares of the company’s stock valued at $3,471,000 after buying an additional 98 shares during the last quarter. South Dakota Investment Council lifted its position in shares of L3Harris Technologies by 1.3% during the fourth quarter. South Dakota Investment Council now owns 39,868 shares of the company’s stock valued at $8,397,000 after buying an additional 500 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at about $180,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LHX. UBS Group raised their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research note on Monday. Royal Bank of Canada lifted their price target on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Citigroup lifted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, Raymond James raised their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $229.60.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded down $0.39 during trading hours on Thursday, hitting $207.32. 681,370 shares of the company were exchanged, compared to its average volume of 1,106,853. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average of $210.19 and a 200-day moving average of $200.99. The stock has a market capitalization of $39.41 billion, a price-to-earnings ratio of 32.25, a P/E/G ratio of 1.93 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the business posted $3.27 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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

Insider Transactions at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders have sold a total of 48,362 shares of company stock worth $10,261,360 in the last three months. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies 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.