L3Harris Technologies, Inc. (NYSE:LHX) Stock Holdings Increased by Bar Harbor Wealth Management

Bar Harbor Wealth Management raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,768 shares of the company’s stock after buying an additional 379 shares during the quarter. Bar Harbor Wealth Management’s holdings in L3Harris Technologies were worth $3,947,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. boosted its position in L3Harris Technologies by 260.6% during the second 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 last quarter. Archer Investment Corp lifted its stake in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. Kennebec Savings Bank bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at $36,000. Ashton Thomas Private Wealth LLC bought a new stake in L3Harris Technologies in the second quarter worth $57,000. Finally, Ashton Thomas Securities LLC bought a new position in L3Harris Technologies during the third quarter valued at about $64,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on LHX shares. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Thursday, October 10th. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Citigroup lifted their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.31.

L3Harris Technologies Stock Performance

Shares of LHX stock traded up $5.57 during mid-day trading on Monday, reaching $213.85. 828,476 shares of the company’s stock traded hands, compared to its average volume of 1,218,195. The firm has a market capitalization of $40.56 billion, a PE ratio of 33.78, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a 50 day moving average price of $231.09 and a two-hundred day moving average price of $233.37. L3Harris Technologies, Inc. has a 12 month low of $200.18 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the company posted $3.19 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 2.17%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 7,889 shares of company stock worth $1,800,572 over the last ninety days. Corporate insiders own 0.82% 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.