L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Synovus Financial Corp

Synovus Financial Corp grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 17.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,734 shares of the company’s stock after acquiring an additional 1,003 shares during the quarter. Synovus Financial Corp’s holdings in L3Harris Technologies were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. increased its stake in L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares during the last quarter. Archer Investment Corp grew its position in shares of L3Harris Technologies by 48.9% during 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 L3Harris Technologies during the third quarter worth about $36,000. Family Firm Inc. bought a new position in L3Harris Technologies in the second quarter worth about $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in L3Harris Technologies in the second quarter valued at approximately $57,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 0.5 %

Shares of LHX stock opened at $223.16 on Monday. The stock has a 50-day simple moving average of $245.13 and a 200 day simple moving average of $235.00. The stock has a market capitalization of $42.33 billion, a P/E ratio of 35.25, a P/E/G ratio of 1.91 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. 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 (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm posted $3.19 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were given a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.08%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Citigroup upped their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Truist Financial lifted their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada upped their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $269.13.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.82% of the company’s stock.

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.