Bangor Savings Bank Trims Position in L3Harris Technologies, Inc. (NYSE:LHX)

Bangor Savings Bank reduced its position in L3Harris Technologies, Inc. (NYSE:LHX) by 7.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 631 shares of the company’s stock after selling 54 shares during the quarter. Bangor Savings Bank’s holdings in L3Harris Technologies were worth $150,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LHX. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares during the period. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at $28,000. EntryPoint Capital LLC grew its position in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc increased its stake in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares during the last quarter. Finally, Family Firm Inc. purchased a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.3 %

LHX opened at $241.15 on Wednesday. The company has a market cap of $45.74 billion, a P/E ratio of 39.06, a P/E/G ratio of 2.04 and a beta of 0.73. L3Harris Technologies, Inc. has a 12 month low of $169.55 and a 12 month high of $247.33. The business’s 50-day moving average price is $231.96 and its 200-day moving average price is $223.86. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the company posted $2.97 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Analyst Ratings Changes

LHX has been the subject of several recent analyst reports. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Barclays increased their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Susquehanna lifted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company lowered their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $246.54.

Insider Buying and Selling at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,390 shares of company stock worth $7,592,959. 0.82% of the stock is currently owned by company insiders.

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.