1,169 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Ledyard National Bank

Ledyard National Bank purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,169 shares of the company’s stock, valued at approximately $246,000.

Several other large investors have also bought and sold shares of the business. Mondrian Investment Partners LTD lifted its stake in L3Harris Technologies by 32,907.5% in the third quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock valued at $66,208,000 after buying an additional 379,094 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of L3Harris Technologies by 53.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock worth $179,709,000 after acquiring an additional 296,654 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of L3Harris Technologies by 22.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after buying an additional 266,468 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in shares of L3Harris Technologies in the third quarter valued at approximately $35,207,000. Finally, Invesco Ltd. increased its position in shares of L3Harris Technologies by 15.3% in the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock worth $254,187,000 after purchasing an additional 193,690 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the transaction, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The disclosure for this purchase can be found here. In the last three months, insiders have sold 48,362 shares of company stock valued at $10,261,360. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded down $1.74 during trading hours on Tuesday, reaching $215.32. 212,279 shares of the stock traded hands, compared to its average volume of 1,117,238. The company has a 50 day moving average price of $210.26 and a 200 day moving average price of $201.92. The firm has a market capitalization of $40.93 billion, a price-to-earnings ratio of 34.95, a P/E/G ratio of 1.99 and a beta of 0.65. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the previous year, the firm earned $2.86 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 12.76 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a yield of 2.15%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Analysts Set New Price Targets

A number of research firms have issued reports on LHX. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price on the stock in a research report on Thursday, January 11th. Raymond James raised their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Citigroup boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Finally, UBS Group boosted their target price on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $230.88.

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.