Baldwin Investment Management LLC Sells 1,110 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Baldwin Investment Management LLC lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 17.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,427 shares of the company’s stock after selling 1,110 shares during the quarter. Baldwin Investment Management LLC’s holdings in L3Harris Technologies were worth $1,291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. Meeder Asset Management Inc. lifted its stake in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Archer Investment Corp grew its position in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the last quarter. Kennebec Savings Bank bought a new position in shares of L3Harris Technologies in the third quarter worth approximately $36,000. EntryPoint Capital LLC increased its stake in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the period. Finally, Versant Capital Management Inc raised its holdings in L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LHX. Citigroup increased their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Truist Financial raised their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada lifted their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $269.67.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $245.57 on Wednesday. The stock’s 50 day simple moving average is $245.35 and its two-hundred day simple moving average is $233.72. L3Harris Technologies, Inc. has a 1 year low of $187.37 and a 1 year high of $265.74. The company has a market cap of $46.58 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 2.01 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company earned $3.19 EPS. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.89%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This trade represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 8,964 shares of company stock worth $2,179,119. 0.87% of the stock is currently owned by company insiders.

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.