Fiduciary Group LLC Purchases New Position in L3Harris Technologies, Inc. (NYSE:LHX)

Fiduciary Group LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,080 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cross Staff Investments Inc increased its stake in shares of L3Harris Technologies by 12.4% in the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock valued at $302,000 after purchasing an additional 158 shares in the last quarter. Sapient Capital LLC purchased a new stake in L3Harris Technologies during the 4th quarter worth approximately $1,198,000. Bruce G. Allen Investments LLC purchased a new stake in L3Harris Technologies during the 4th quarter worth approximately $46,000. Ceredex Value Advisors LLC increased its stake in L3Harris Technologies by 14.1% during the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock worth $117,315,000 after buying an additional 83,319 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in L3Harris Technologies during the 4th quarter worth approximately $1,125,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Citigroup boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research note on Monday, April 22nd. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Wells Fargo & Company lowered their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Finally, Raymond James boosted their target price on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $229.93.

L3Harris Technologies Stock Up 1.2 %

NYSE:LHX opened at $217.07 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The stock’s fifty day moving average is $210.26 and its two-hundred day moving average is $201.92. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The stock has a market capitalization of $41.27 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the prior year, the firm earned $2.86 earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. Research analysts anticipate that L3Harris Technologies, Inc. will post 12.76 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is currently owned by company 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.