Fortem Financial Group LLC Purchases 465 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Fortem Financial Group LLC boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 13.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,002 shares of the company’s stock after acquiring an additional 465 shares during the quarter. Fortem Financial Group LLC’s holdings in L3Harris Technologies were worth $842,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LHX. Envestnet Asset Management Inc. increased its holdings in L3Harris Technologies by 236.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after buying an additional 695,582 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after acquiring an additional 178,407 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of L3Harris Technologies by 65.2% in the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after acquiring an additional 171,420 shares during the period. International Assets Investment Management LLC raised its holdings in shares of L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after purchasing an additional 169,878 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its position in L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after purchasing an additional 166,262 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LHX. Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday. Barclays lowered their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday. Citigroup boosted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Finally, Wells Fargo & Company cut their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $267.07.

L3Harris Technologies Price Performance

LHX traded down $5.75 during trading on Monday, hitting $204.00. 968,531 shares of the company traded hands, compared to its average volume of 925,812. The company has a market cap of $38.69 billion, a PE ratio of 32.23, a P/E/G ratio of 1.86 and a beta of 0.75. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $235.18 and its two-hundred day simple moving average is $234.03.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the previous year, the firm posted $3.19 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side 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 was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a $1.16 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.27%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by corporate insiders.

About L3Harris Technologies

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.