3,537 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Fortem Financial Group LLC

Fortem Financial Group LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,537 shares of the company’s stock, valued at approximately $841,000.

Several other large investors have also made changes to their positions in LHX. OneDigital Investment Advisors LLC lifted its stake in shares of L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after purchasing an additional 40 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after buying an additional 42 shares in the last quarter. RFG Advisory LLC grew its stake in L3Harris Technologies by 3.1% during the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after buying an additional 43 shares during the period. Blossom Wealth Management increased its position in shares of L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after acquiring an additional 43 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its stake in shares of L3Harris Technologies by 3.3% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after acquiring an additional 43 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, 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 research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $269.67.

L3Harris Technologies Price Performance

Shares of LHX opened at $230.51 on Wednesday. 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 firm has a market cap of $43.72 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 1.96 and a beta of 0.72. L3Harris Technologies, Inc. has a 52 week low of $196.42 and a 52 week high of $265.74. The stock has a 50 day moving average of $246.53 and a 200-day moving average of $234.82.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the company earned $3.19 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.01%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.82% of the company’s stock.

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.