Bahl & Gaynor Inc. Sells 324 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Bahl & Gaynor Inc. reduced its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 158,516 shares of the company’s stock after selling 324 shares during the period. Bahl & Gaynor Inc. owned 0.08% of L3Harris Technologies worth $33,333,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies during the fourth quarter worth about $27,000. Roxbury Financial LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $30,000. Archer Investment Corp grew its stake in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies in the fourth quarter valued at $33,000. Finally, Kennebec Savings Bank acquired a new position in L3Harris Technologies during the third quarter worth $36,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 4,901 shares of company stock worth $1,059,757 over the last three months. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent analyst reports. Susquehanna lowered their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company reduced their target price on L3Harris Technologies from $300.00 to $269.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Citigroup dropped their price target on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $261.47.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $207.58 on Tuesday. The stock has a market capitalization of $39.09 billion, a PE ratio of 26.38, a P/E/G ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The business has a fifty day moving average price of $208.94 and a two-hundred day moving average price of $228.09.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate 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, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $1.20 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s payout ratio is currently 58.96%.

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.