Baxter Bros Inc. Reduces Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Baxter Bros Inc. lessened its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,555 shares of the company’s stock after selling 329 shares during the period. Baxter Bros Inc.’s holdings in L3Harris Technologies were worth $4,322,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zions Bancorporation N.A. grew its holdings in L3Harris Technologies by 47.1% in the 4th quarter. Zions Bancorporation N.A. now owns 3,165 shares of the company’s stock valued at $666,000 after buying an additional 1,013 shares during the period. TIAA Trust National Association raised its holdings in shares of L3Harris Technologies by 4.8% in the 4th quarter. TIAA Trust National Association now owns 3,899 shares of the company’s stock worth $820,000 after purchasing an additional 177 shares during the period. CoreFirst Bank & Trust acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at about $42,000. Prudential Financial Inc. grew its holdings in shares of L3Harris Technologies by 13.5% during the 4th quarter. Prudential Financial Inc. now owns 601,871 shares of the company’s stock worth $126,561,000 after purchasing an additional 71,425 shares during the period. Finally, ICW Investment Advisors LLC increased its position in L3Harris Technologies by 1.4% during the 4th quarter. ICW Investment Advisors LLC now owns 8,316 shares of the company’s stock worth $1,749,000 after purchasing an additional 111 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 1.4 %

Shares of NYSE:LHX opened at $210.88 on Tuesday. The company has a 50 day moving average price of $209.74 and a 200 day moving average price of $225.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a market capitalization of $39.59 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a dividend of $1.20 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s payout ratio is currently 60.99%.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $718,228.00. Following the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,334 shares of company stock valued at $1,383,709. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LHX. Susquehanna decreased their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Tuesday, November 26th. Bank of America reduced their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, UBS Group boosted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

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.