Atlanta Consulting Group Advisors LLC Buys New Shares in L3Harris Technologies, Inc. (NYSE:LHX)

Atlanta Consulting Group Advisors LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,280 shares of the company’s stock, valued at approximately $304,000.

A number of other large investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in L3Harris Technologies during the first quarter worth about $228,000. Orion Portfolio Solutions LLC boosted its stake in shares of L3Harris Technologies by 21.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 9,389 shares of the company’s stock worth $2,001,000 after acquiring an additional 1,650 shares during the period. TIAA Trust National Association increased its holdings in shares of L3Harris Technologies by 4.1% during the 1st quarter. TIAA Trust National Association now owns 3,737 shares of the company’s stock worth $796,000 after acquiring an additional 148 shares during the last quarter. Edgestream Partners L.P. raised its stake in L3Harris Technologies by 151.6% in the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after acquiring an additional 2,325 shares during the period. Finally, Covestor Ltd lifted its holdings in L3Harris Technologies by 177.8% during the 1st quarter. Covestor Ltd now owns 850 shares of the company’s stock valued at $181,000 after purchasing an additional 544 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LHX shares. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company upped their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. 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 research report on Thursday, October 3rd. Truist Financial upped their target price on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Price Performance

LHX stock opened at $247.00 on Monday. The company’s 50-day moving average price is $243.16 and its two-hundred day moving average price is $232.29. The firm has a market cap of $46.85 billion, a P/E ratio of 39.02, a P/E/G ratio of 2.06 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12 month low of $184.34 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 net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the firm posted $3.19 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares of the company’s stock, valued at $3,861,670.88. This represents a 15.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies 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.