Fortem Financial Group LLC Grows Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Fortem Financial Group LLC increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 13.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,002 shares of the company’s stock after buying an additional 465 shares during the period. Fortem Financial Group LLC’s holdings in L3Harris Technologies were worth $842,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LHX. Meeder Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp lifted its holdings in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the last quarter. Kennebec Savings Bank purchased a new position in L3Harris Technologies in the third quarter worth $36,000. Ashton Thomas Private Wealth LLC bought a new position in L3Harris Technologies in the second quarter valued at $57,000. Finally, Ashton Thomas Securities LLC purchased a new stake in L3Harris Technologies during the third quarter valued at about $64,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 2.7 %

LHX traded down $5.75 on Monday, hitting $204.00. The company had a trading volume of 968,531 shares, compared to its average volume of 925,812. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74. The stock has a fifty day simple moving average of $235.18 and a 200-day simple moving average of $234.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market capitalization of $38.69 billion, a P/E ratio of 32.23, a P/E/G ratio of 1.86 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results 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. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 earnings per share. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Tuesday, November 26th. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $267.07.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares in the company, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 7,889 shares of company stock valued at $1,800,572. Corporate insiders own 0.82% of the company’s stock.

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.