Baldwin Investment Management LLC Raises Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Baldwin Investment Management LLC grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,492 shares of the company’s stock after acquiring an additional 65 shares during the period. Baldwin Investment Management LLC’s holdings in L3Harris Technologies were worth $1,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the period. Geode Capital Management LLC increased its holdings in L3Harris Technologies by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock valued at $1,004,418,000 after acquiring an additional 53,787 shares during the last quarter. FMR LLC lifted its stake in L3Harris Technologies by 11.5% in the 4th quarter. FMR LLC now owns 2,261,999 shares of the company’s stock worth $475,653,000 after purchasing an additional 233,968 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after purchasing an additional 522,861 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at about $398,507,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.1 %

Shares of NYSE LHX opened at $219.72 on Friday. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $212.69 and a two-hundred day simple moving average of $221.20. The firm has a market cap of $41.08 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.06 earnings per share. Analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 2.18%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LHX. Bank of America dropped their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Truist Financial cut their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. lowered their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. UBS Group lifted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Finally, The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their price objective for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $256.56.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.