L3Harris Technologies Inc $LHX Shares Acquired by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 210.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,297 shares of the company’s stock after acquiring an additional 17,161 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in L3Harris Technologies were worth $6,345,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in L3Harris Technologies in the 1st quarter valued at about $299,157,000. Bank of New York Mellon Corp increased its stake in shares of L3Harris Technologies by 52.3% during the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after buying an additional 1,413,833 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in L3Harris Technologies by 946.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock worth $164,297,000 after acquiring an additional 709,948 shares during the last quarter. Wellington Management Group LLP grew its holdings in L3Harris Technologies by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after acquiring an additional 557,610 shares in the last quarter. Finally, Appaloosa LP purchased a new stake in shares of L3Harris Technologies in the 1st quarter valued at approximately $62,793,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Barclays upped their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $295.63.

L3Harris Technologies Stock Performance

Shares of LHX opened at $285.13 on Friday. The stock has a market capitalization of $53.33 billion, a P/E ratio of 31.86, a P/E/G ratio of 2.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The company’s fifty day moving average is $287.80 and its two-hundred day moving average is $263.24.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.10. The business had revenue of $5.66 billion for 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%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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

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.