Penobscot Investment Management Company Inc. Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Penobscot Investment Management Company Inc. purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,175 shares of the company’s stock, valued at approximately $247,000.

Several other large investors also recently bought and sold shares of LHX. KB Financial Partners LLC grew its position 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 valued at $29,000 after purchasing an additional 82 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares during the period. Washington Trust Advisors Inc. increased its position in 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 purchasing an additional 79 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new position in L3Harris Technologies during the third quarter worth about $35,000. Finally, Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction dated 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 owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 over the last 90 days. 0.82% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $211.75 on Thursday. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The firm has a 50 day moving average of $210.26 and a two-hundred day moving average of $202.25. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $40.16 billion, a PE ratio of 34.38, a P/E/G ratio of 1.97 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $5.11 billion. During the same period last year, the business posted $2.86 earnings per share. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. On average, research analysts predict that L3Harris Technologies, Inc. will post 12.87 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 2.19%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LHX shares. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a report on Monday, April 22nd. JPMorgan Chase & Co. lifted their target price on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday. Raymond James increased their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.33.

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.