L3Harris Technologies Inc (NYSE:LHX) Stock Holdings Trimmed by Baldwin Investment Management LLC

Key Points

• Baldwin Investment Management LLC reduced its stake in L3Harris Technologies Inc by 37.8%, selling 2,075 shares and now holds 3,417 shares valued at approximately $715,000.
• In terms of performance, L3Harris Technologies reported an earnings per share (EPS) of $2.78 for the latest quarter, exceeding the estimated $2.48, and the company's revenue also surpassed expectations at $5.43 billion.
• The company has declared a quarterly dividend of $1.20 per share, resulting in an annualized dividend yield of 1.78%, with an announcement for payment on September 22nd.

Baldwin Investment Management LLC reduced its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 37.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,417 shares of the company's stock after selling 2,075 shares during the quarter. Baldwin Investment Management LLC's holdings in L3Harris Technologies were worth $715,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Transce3nd LLC raised its holdings in L3Harris Technologies by 7.9% during the 1st quarter. Transce3nd LLC now owns 652 shares of the company's stock valued at $137,000 after buying an additional 48 shares during the period. Koshinski Asset Management Inc. increased its stake in L3Harris Technologies by 3.1% in the first quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock worth $353,000 after purchasing an additional 50 shares during the period. Belpointe Asset Management LLC increased its stake in L3Harris Technologies by 0.7% in the fourth quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock worth $1,476,000 after purchasing an additional 52 shares during the period. CWC Advisors LLC. increased its stake in L3Harris Technologies by 2.1% in the fourth quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock worth $546,000 after purchasing an additional 53 shares during the period. Finally, Callan Capital LLC increased its stake in L3Harris Technologies by 5.0% in the first quarter. Callan Capital LLC now owns 1,107 shares of the company's stock worth $232,000 after purchasing an additional 53 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the transaction, the chief executive officer directly owned 145,572 shares of the company's stock, valued at $36,171,730.56. The trade was a 18.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider owned 25,325 shares of the company's stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of LHX traded up $2.58 during trading hours on Tuesday, reaching $272.05. 931,001 shares of the company traded hands, compared to its average volume of 1,263,304. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $50.90 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 2.10 and a beta of 0.75. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $280.03. The stock has a fifty day simple moving average of $252.73 and a 200 day simple moving average of $226.63.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.24 earnings per share. As a group, research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio is currently 53.63%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LHX. Barclays raised their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Monday. Susquehanna raised their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research report on Friday. Wells Fargo & Company lowered their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Jefferies Financial Group lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $279.47.

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.