Cahaba Wealth Management Inc. Acquires Shares of 878 L3Harris Technologies, Inc. (NYSE:LHX)

Cahaba Wealth Management Inc. acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 878 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. EntryPoint Capital LLC raised its holdings in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the period. Versant Capital Management Inc raised its holdings in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 80 shares during the period. Family Firm Inc. purchased a new position in shares of L3Harris Technologies during the 2nd quarter worth $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of L3Harris Technologies during the 2nd quarter worth $57,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the business’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 sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LHX shares. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Citigroup lifted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Truist Financial lifted their price target on L3Harris Technologies from $250.00 to $293.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Barclays boosted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $256.71.

L3Harris Technologies Stock Up 0.2 %

LHX stock traded up $0.50 during midday trading on Friday, hitting $248.78. The company’s stock had a trading volume of 481,946 shares, compared to its average volume of 913,666. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a 52-week low of $169.55 and a 52-week high of $249.16. The firm has a market capitalization of $47.19 billion, a P/E ratio of 40.39, a PEG ratio of 2.08 and a beta of 0.73. The firm has a 50-day simple moving average of $235.12 and a 200-day simple moving average of $225.81.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.97 EPS. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

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.