Bailard Inc. Cuts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Bailard Inc. cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,167 shares of the company's stock after selling 4,392 shares during the period. Bailard Inc.'s holdings in L3Harris Technologies were worth $4,872,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KCM Investment Advisors LLC raised its stake in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock worth $4,584,000 after buying an additional 5,868 shares in the last quarter. Fortem Financial Group LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $841,000. Czech National Bank raised its stake in shares of L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company's stock worth $8,648,000 after buying an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock worth $184,245,000 after buying an additional 178,407 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock worth $52,395,000 after buying an additional 4,321 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

NYSE:LHX traded down $0.23 during trading hours on Tuesday, reaching $207.47. 2,093,273 shares of the company traded hands, compared to its average volume of 916,779. The firm's 50-day moving average is $208.82 and its 200-day moving average is $227.94. The stock has a market cap of $39.07 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $3.47 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%. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.20 per share. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.31%. L3Harris Technologies's dividend payout ratio (DPR) is 58.96%.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of analyst reports. Bank of America cut their target price 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. Wells Fargo & Company dropped their price objective 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 objective on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Finally, Argus raised L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective for the company in a research note on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $261.47.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now directly owns 6,812 shares of the company's stock, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 4,901 shares of company stock worth $1,059,757 over the last quarter. 0.82% of the stock is currently owned by 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.