L3Harris Technologies Inc $LHX Shares Bought by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 25.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,355 shares of the company’s stock after purchasing an additional 40,141 shares during the quarter. Bahl & Gaynor Inc. owned 0.11% of L3Harris Technologies worth $61,190,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in L3Harris Technologies by 0.5% during the second quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock valued at $5,811,973,000 after buying an additional 121,619 shares during the period. State Street Corp boosted its stake in shares of L3Harris Technologies by 1.2% during the 2nd quarter. State Street Corp now owns 8,874,482 shares of the company’s stock worth $2,226,075,000 after acquiring an additional 105,402 shares in the last quarter. Geode Capital Management LLC grew its position in shares of L3Harris Technologies by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock valued at $1,236,410,000 after acquiring an additional 38,820 shares during the period. Bank of New York Mellon Corp increased its stake in shares of L3Harris Technologies by 52.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares in the last quarter. Finally, Boston Partners raised its holdings in L3Harris Technologies by 72.1% in the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after purchasing an additional 838,546 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $338.85, for a total value of $1,640,034.00. Following the completion of the sale, the insider directly owned 5,916 shares in the company, valued at $2,004,636.60. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on LHX. BNP Paribas Exane raised L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. UBS Group lifted their price target on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a report on Wednesday, January 14th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. Finally, Vertical Research reissued a “buy” rating and set a $355.00 target price on shares of L3Harris Technologies in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Trading Up 2.6%

Shares of LHX opened at $364.50 on Monday. L3Harris Technologies Inc has a 52-week low of $195.72 and a 52-week high of $369.59. The stock has a market cap of $68.08 billion, a PE ratio of 42.73, a price-to-earnings-growth ratio of 2.63 and a beta of 0.63. The firm’s fifty day moving average is $335.43 and its two-hundred day moving average is $302.66. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.47 earnings per share. Research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $1.25 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio is 56.27%.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.