Baxter Bros Inc. Lowers Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Baxter Bros Inc. trimmed its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,555 shares of the company’s stock after selling 329 shares during the quarter. Baxter Bros Inc.’s holdings in L3Harris Technologies were worth $4,322,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LHX. Zions Bancorporation N.A. raised its position in shares of L3Harris Technologies by 47.1% during the 4th quarter. Zions Bancorporation N.A. now owns 3,165 shares of the company’s stock worth $666,000 after purchasing an additional 1,013 shares during the last quarter. TIAA Trust National Association lifted its position in shares of L3Harris Technologies by 4.8% in the fourth quarter. TIAA Trust National Association now owns 3,899 shares of the company’s stock valued at $820,000 after acquiring an additional 177 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of L3Harris Technologies in the fourth quarter worth approximately $42,000. Prudential Financial Inc. raised its stake in L3Harris Technologies by 13.5% in the 4th quarter. Prudential Financial Inc. now owns 601,871 shares of the company’s stock valued at $126,561,000 after purchasing an additional 71,425 shares during the last quarter. Finally, ICW Investment Advisors LLC lifted its holdings in L3Harris Technologies by 1.4% in the 4th quarter. ICW Investment Advisors LLC now owns 8,316 shares of the company’s stock valued at $1,749,000 after purchasing an additional 111 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $210.88 on Tuesday. The company has a market cap of $39.59 billion, a P/E ratio of 26.80, a PEG ratio of 2.42 and a beta of 0.74. 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 quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average price is $209.74 and its 200 day moving average price is $225.98.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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 forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

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

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred 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 directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,334 shares of company stock worth $1,383,709. 0.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LHX. UBS Group upped their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Truist Financial decreased their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Tuesday, November 26th. Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Susquehanna dropped their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $261.40.

About L3Harris Technologies

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.