Camden National Bank Sells 349 Shares of L3Harris Technologies Inc $LHX

by · The Cerbat Gem

Camden National Bank reduced its stake in L3Harris Technologies Inc (NYSE:LHX – Free Report) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,144 shares of the company’s stock after selling 349 shares during the period. L3Harris Technologies accounts for approximately 1.7% of Camden National Bank’s investment portfolio, making the stock its 21st biggest position. Camden National Bank’s holdings in L3Harris Technologies were worth $11,826,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LHX. Nuveen LLC acquired a new position in L3Harris Technologies in the 1st quarter valued at about $299,157,000. Bank of New York Mellon Corp grew its position in shares of L3Harris Technologies by 52.3% in the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the last quarter. AGF Management Ltd. bought a new position in shares of L3Harris Technologies during the second quarter worth approximately $324,940,000. Boston Partners lifted its holdings in L3Harris Technologies by 71.8% during the 2nd quarter. Boston Partners now owns 1,999,316 shares of the company’s stock worth $503,434,000 after purchasing an additional 835,651 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in L3Harris Technologies by 946.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock valued at $164,297,000 after purchasing an additional 709,948 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LHX. Morgan Stanley raised their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Barclays increased their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada upped their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Twelve investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $295.29.

View Our Latest Stock Report on LHX

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Trading Down 2.3%

NYSE:LHX opened at $277.70 on Friday. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $308.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The firm’s fifty day moving average is $291.00 and its 200-day moving average is $268.73. The firm has a market cap of $51.94 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.09 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX – Get Free Report) last announced its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio is presently 51.56%.

L3Harris Technologies Company Profile

(Free Report)

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.

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