Atlanta Consulting Group Advisors LLC Invests $304,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Atlanta Consulting Group Advisors LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,280 shares of the company’s stock, valued at approximately $304,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its position in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp boosted its position in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at $36,000. EntryPoint Capital LLC lifted its stake in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Susquehanna upped their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research report on Thursday, October 10th. Truist Financial raised their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $267.50.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $247.00 on Monday. The company has a fifty day moving average price of $243.16 and a 200 day moving average price of $232.29. L3Harris Technologies, Inc. has a 1-year low of $184.34 and a 1-year high of $265.74. The firm has a market cap of $46.85 billion, a PE ratio of 39.02, a PEG ratio of 2.06 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the company earned $3.19 earnings per share. L3Harris Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. Research analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 8,964 shares of company stock valued at $2,179,119 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

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.