Bailard Inc. Sells 905 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Bailard Inc. decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,264 shares of the company’s stock after selling 905 shares during the period. Bailard Inc.’s holdings in L3Harris Technologies were worth $6,123,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Bfsg LLC acquired a new stake in L3Harris Technologies in the first quarter worth $25,000. Transcendent Capital Group LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $28,000. EntryPoint Capital LLC grew its stake in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares during the period. Versant Capital Management Inc increased its position in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in L3Harris Technologies during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In related news, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $11,189,760. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. The disclosure for this sale can be found here. Insiders sold 84,312 shares of company stock worth $19,085,072 in the last three months. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX traded down $1.73 during trading hours on Monday, hitting $228.95. The company’s stock had a trading volume of 600,345 shares, compared to its average volume of 972,404. The business has a 50 day simple moving average of $228.91 and a two-hundred day simple moving average of $219.29. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $245.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The company has a market cap of $43.43 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 1.90 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the company earned $2.97 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Analysts Set New Price Targets

A number of brokerages have commented on LHX. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their price target for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Barclays raised their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Wells Fargo & Company dropped their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.43.

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.