Bahl & Gaynor Inc. Boosts Position in L3Harris Technologies Inc $LHX

Bahl & Gaynor Inc. lifted its position in L3Harris Technologies Inc (NYSE:LHX) by 25.1% in the third quarter, HoldingsChannel reports. The firm owned 200,355 shares of the company’s stock after buying an additional 40,141 shares during the period. Bahl & Gaynor Inc.’s holdings in L3Harris Technologies were worth $61,190,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitlin John LLC acquired a new position in L3Harris Technologies in the 3rd quarter valued at about $28,000. GGM Financials LLC acquired a new position in L3Harris Technologies in the third quarter valued at approximately $32,000. Salomon & Ludwin LLC purchased a new position in L3Harris Technologies in the third quarter worth approximately $34,000. Twin Peaks Wealth Advisors LLC acquired a new stake in L3Harris Technologies during the second quarter worth $34,000. Finally, Copia Wealth Management raised its position in L3Harris Technologies by 1,842.9% in the third quarter. Copia Wealth Management now owns 136 shares of the company’s stock valued at $42,000 after purchasing an additional 129 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 2.6%

NYSE LHX opened at $364.50 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The firm has a market cap of $68.08 billion, a price-to-earnings ratio of 42.73, a PEG ratio of 2.63 and a beta of 0.63. The firm has a 50 day simple moving average of $335.43 and a 200-day simple moving average of $302.66. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $369.59.

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

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 56.27%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the sale, the insider owned 5,916 shares in the company, valued at $2,004,636.60. This represents a 45.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. Citigroup upped their price objective on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $328.57.

About L3Harris Technologies

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.