L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,502 shares of the company’s stock after buying an additional 78 shares during the period. Fortis Capital Advisors LLC’s holdings in L3Harris Technologies were worth $947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its holdings in shares of L3Harris Technologies by 111.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 313,909 shares of the company’s stock worth $66,009,000 after acquiring an additional 165,673 shares during the period. Petros Family Wealth LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at $763,000. Sterling Capital Management LLC increased its position in shares of L3Harris Technologies by 39.9% in the fourth quarter. Sterling Capital Management LLC now owns 14,130 shares of the company’s stock valued at $2,971,000 after buying an additional 4,028 shares in the last quarter. Covestor Ltd raised its stake in shares of L3Harris Technologies by 12.2% during the 4th quarter. Covestor Ltd now owns 994 shares of the company’s stock worth $209,000 after buying an additional 108 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of L3Harris Technologies by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 83,285 shares of the company’s stock worth $17,513,000 after buying an additional 520 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 3.8 %

Shares of NYSE LHX opened at $221.67 on Friday. The stock has a market capitalization of $41.61 billion, a PE ratio of 28.17, a P/E/G ratio of 2.42 and a beta of 0.71. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average of $207.62 and a 200-day moving average of $223.70. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $1.20 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s payout ratio is currently 60.99%.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LHX. Citigroup dropped their target price on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating for the company in a report on Thursday. Susquehanna reduced their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company cut their price target on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday. Bank of America decreased their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.94.

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.