Baird Financial Group Inc. Increases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Baird Financial Group Inc. lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,361 shares of the company's stock after buying an additional 3,749 shares during the quarter. Baird Financial Group Inc. owned 0.13% of L3Harris Technologies worth $50,123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after purchasing an additional 82 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth about $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after purchasing an additional 111 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the business's 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 directly owns 2,797 shares of the company's stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company's stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

LHX traded up $1.92 during trading on Wednesday, reaching $218.11. The stock had a trading volume of 1,527,085 shares, compared to its average volume of 1,022,839. The stock has a market cap of $40.77 billion, a PE ratio of 27.71, a PEG ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The business has a 50-day moving average of $213.48 and a 200-day moving average of $220.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.06 EPS. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. UBS Group increased their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and raised their target price for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Citigroup dropped their price objective on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $256.56.

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.