Baldwin Investment Management LLC Sells 1,110 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Baldwin Investment Management LLC lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 17.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,427 shares of the company’s stock after selling 1,110 shares during the quarter. Baldwin Investment Management LLC’s holdings in L3Harris Technologies were worth $1,291,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. OneDigital Investment Advisors LLC lifted its holdings in L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after buying an additional 40 shares during the period. Koshinski Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 2.7% in the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after acquiring an additional 42 shares during the period. RFG Advisory LLC boosted its stake in shares of L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after purchasing an additional 43 shares during the last quarter. Blossom Wealth Management increased its position in shares of L3Harris Technologies by 1.7% during the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after buying an additional 43 shares during the period. Finally, Nicholas Hoffman & Company LLC. raised its stake in L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after buying an additional 43 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now owns 16,316 shares in the company, valued at approximately $3,861,670.88. This trade represents a 15.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 8,964 shares of company stock valued at $2,179,119 in the last three months. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $245.57 on Wednesday. The firm has a market capitalization of $46.58 billion, a P/E ratio of 38.79, a PEG ratio of 2.01 and a beta of 0.72. L3Harris Technologies, Inc. has a one year low of $187.37 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The business has a fifty day moving average price of $245.35 and a 200-day moving average price of $233.72.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the company earned $3.19 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Thursday, October 10th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday. Finally, Citigroup raised their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $269.67.

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.