Atlantic Union Bankshares Corp Sells 309 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Atlantic Union Bankshares Corp lessened its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,454 shares of the company’s stock after selling 309 shares during the period. Atlantic Union Bankshares Corp’s holdings in L3Harris Technologies were worth $1,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter valued at about $27,000. Roxbury Financial LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at approximately $30,000. Archer Investment Corp lifted its holdings in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of L3Harris Technologies in the 4th quarter worth about $33,000. Finally, Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies in the 3rd quarter worth about $36,000. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 4,901 shares of company stock valued at $1,059,757. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $220.47 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm has a market cap of $41.52 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The stock has a fifty day simple moving average of $208.94 and a two-hundred day simple moving average of $227.64.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $1.20 dividend. The ex-dividend date is Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.18%. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Analyst Ratings Changes

LHX has been the subject of several analyst reports. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Susquehanna reduced their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reduced their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.40.

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.