Ledyard National Bank Makes New $246,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Ledyard National Bank bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,169 shares of the company’s stock, valued at approximately $246,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Adell Harriman & Carpenter Inc. increased its holdings in shares of L3Harris Technologies by 13.5% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 2,776 shares of the company’s stock valued at $585,000 after buying an additional 331 shares in the last quarter. Intrust Bank NA increased its holdings in shares of L3Harris Technologies by 14.5% in the fourth quarter. Intrust Bank NA now owns 4,009 shares of the company’s stock valued at $844,000 after buying an additional 507 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. bought a new position in shares of L3Harris Technologies in the fourth quarter valued at $201,000. Blue Chip Partners LLC increased its holdings in shares of L3Harris Technologies by 18.8% in the fourth quarter. Blue Chip Partners LLC now owns 757 shares of the company’s stock valued at $160,000 after buying an additional 120 shares in the last quarter. Finally, Fiduciary Group LLC bought a new position in shares of L3Harris Technologies in the fourth quarter valued at $227,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

LHX stock traded down $1.74 during mid-day trading on Tuesday, hitting $215.32. The company had a trading volume of 212,279 shares, compared to its average volume of 1,117,238. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The firm has a market cap of $40.93 billion, a PE ratio of 34.95, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65. 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 stock’s fifty day moving average price is $210.26 and its two-hundred day moving average price is $201.92.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The business 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 12.82% and a net margin of 5.82%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.86 earnings per share. On average, analysts forecast that L3Harris Technologies, Inc. will post 12.76 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued 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 2.15%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analyst Weigh In

Several analysts have issued reports on LHX shares. UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research note on Monday, April 22nd. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Raymond James upped their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $230.88.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction 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 directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The shares were 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 owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now owns 1,543 shares in the company, valued at $332,285.05. The disclosure for this purchase can be found here. Insiders have sold a total of 48,362 shares of company stock valued at $10,261,360 over the last ninety days. Company insiders own 0.87% of the company’s stock.

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.