Bahl & Gaynor Inc. Has $25.56 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Bahl & Gaynor Inc. trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 15.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,361 shares of the company's stock after selling 22,169 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.06% of L3Harris Technologies worth $25,561,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. KB Financial Partners LLC lifted its stake in shares of L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company's stock worth $29,000 after acquiring an additional 82 shares during the period. New England Capital Financial Advisors LLC acquired a new position in shares of L3Harris Technologies in the third quarter worth approximately $35,000. Blue Trust Inc. lifted its stake in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company's stock worth $36,000 after acquiring an additional 109 shares during the period. Washington Trust Advisors Inc. lifted its stake in shares of L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company's stock worth $37,000 after acquiring an additional 79 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $46,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the business's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares of the company's stock, valued at $12,376,393.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares of the company's stock, valued at approximately $12,376,393.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the firm's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,362 shares of company stock valued at $10,261,360. Insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com downgraded L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Monday, January 29th. Raymond James lifted their target price on L3Harris Technologies from $220.00 to $235.00 and gave the stock an "outperform" rating in a report on Monday, January 29th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a "neutral" rating to an "overweight" rating and set a $240.00 target price for the company in a report on Thursday, January 11th. Alembic Global Advisors upgraded L3Harris Technologies from a "neutral" rating to an "overweight" rating and set a $238.00 target price for the company in a report on Monday. Finally, Citigroup lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock a "buy" rating in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus target price of $229.60.

L3Harris Technologies Stock Up 3.5 %

Shares of NYSE:LHX traded up $7.18 during mid-day trading on Friday, hitting $214.54. 2,131,337 shares of the company traded hands, compared to its average volume of 1,126,049. The stock has a market cap of $40.79 billion, a P/E ratio of 33.31, a P/E/G ratio of 1.93 and a beta of 0.65. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34. The stock has a 50-day moving average price of $210.16 and a two-hundred day moving average price of $201.28.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion for the quarter, compared to analysts' expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. L3Harris Technologies's quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.86 earnings per share. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 annualized dividend and a yield of 2.16%. L3Harris Technologies's dividend payout ratio is currently 72.05%.

L3Harris Technologies Company 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.

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