Fortem Financial Group LLC Takes $841,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Fortem Financial Group LLC purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,537 shares of the company's stock, valued at approximately $841,000.

A number of other large investors have also recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC boosted its position in 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 buying an additional 40 shares during the period. Koshinski Asset Management Inc. grew its stake in L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company's stock worth $385,000 after purchasing an additional 42 shares in the last quarter. RFG Advisory LLC raised its position in L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company's stock valued at $318,000 after purchasing an additional 43 shares in the last quarter. Blossom Wealth Management boosted its stake in shares of L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company's stock valued at $604,000 after buying an additional 43 shares during the period. Finally, Nicholas Hoffman & Company LLC. grew its position in shares of L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock worth $322,000 after buying an additional 43 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded down $1.81 during trading hours on Wednesday, hitting $228.87. The stock had a trading volume of 663,638 shares, compared to its average volume of 908,965. L3Harris Technologies, Inc. has a 1-year low of $198.22 and a 1-year high of $265.74. The firm has a market capitalization of $43.41 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 1.96 and a beta of 0.72. The stock's fifty day simple moving average is $246.23 and its 200 day simple moving average is $234.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion during 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 quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $3.19 EPS. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a $1.16 dividend. 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 2.03%. L3Harris Technologies's dividend payout ratio (DPR) is 73.30%.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating on the stock in a research note on Thursday, October 3rd. 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 research note on Wednesday. Bank of America raised shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and upped their price target for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Wolfe Research raised shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 price objective on the stock in a research note on Thursday, October 10th. Finally, StockNews.com raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.13.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares of the company's stock, valued at $3,261,095.04. This represents a 18.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.82% of the stock is currently owned by company insiders.

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.