Atlantic Union Bankshares Corp Lowers Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Atlantic Union Bankshares Corp lessened its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,763 shares of the company’s stock after selling 140 shares during the period. Atlantic Union Bankshares Corp’s holdings in L3Harris Technologies were worth $2,084,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC grew its position in shares of L3Harris Technologies by 0.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after purchasing an additional 40 shares during the period. Koshinski Asset Management Inc. lifted its stake in L3Harris Technologies by 2.7% in the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after buying an additional 42 shares in the last quarter. RFG Advisory LLC boosted its holdings in L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after buying an additional 43 shares during the last quarter. Blossom Wealth Management increased its stake in L3Harris Technologies by 1.7% during the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after buying an additional 43 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its holdings in shares of L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.3 %

LHX stock opened at $246.13 on Friday. L3Harris Technologies, Inc. has a one year low of $188.95 and a one year high of $265.74. The firm has a market cap of $46.68 billion, a PE ratio of 38.88, a PEG ratio of 2.05 and a beta of 0.72. The firm’s 50 day moving average price is $246.22 and its 200-day moving average price is $234.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 8,964 shares of company stock worth $2,179,119 over the last three months. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Wells Fargo & Company lifted their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Truist Financial increased their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $269.67.

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.