L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Norway Savings Bank

Norway Savings Bank increased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 39.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,186 shares of the company’s stock after purchasing an additional 624 shares during the quarter. Norway Savings Bank’s holdings in L3Harris Technologies were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $28,000. KB Financial Partners LLC raised its position in shares of L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares during the last quarter. Washington Trust Advisors Inc. grew its position in shares of L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after buying an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the sale, the vice president now owns 14,186 shares in the company, valued at approximately $3,074,531.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,898 shares of company stock valued at $18,558,167. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 0.6 %

LHX opened at $224.58 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The company has a market capitalization of $42.60 billion, a PE ratio of 36.46, a P/E/G ratio of 1.87 and a beta of 0.71. The stock’s fifty day moving average is $219.69 and its 200-day moving average is $212.72. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $228.13.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. 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 business earned $2.86 earnings per share. L3Harris Technologies’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities analysts predict that L3Harris Technologies, Inc. will post 12.93 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a $1.16 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $4.64 annualized dividend and a yield of 2.07%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Analysts Set New Price Targets

A number of research firms have commented on LHX. Barclays increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Royal Bank of Canada lifted their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. lifted their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

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.