Fiduciary Group LLC Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

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

Several other hedge funds and other institutional investors have also modified their holdings of LHX. KB Financial Partners LLC increased its holdings in L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in L3Harris Technologies during the 3rd quarter valued at $35,000. Blue Trust Inc. increased its holdings in L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares in the last quarter. Washington Trust Advisors Inc. increased its holdings in L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in L3Harris Technologies during the 4th quarter valued at $46,000. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other L3Harris Technologies 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 completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director William H. Swanson purchased 1,250 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 over the last three months. Insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several research reports. Royal Bank of Canada lifted their target price on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a research note on Thursday, January 11th. Citigroup lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. UBS Group lifted their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Finally, Raymond James lifted 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 investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $229.93.

L3Harris Technologies Trading Up 1.2 %

Shares of LHX stock opened at $217.07 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The stock has a market cap of $41.27 billion, a P/E ratio of 35.24, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65. The stock has a 50 day simple moving average of $210.26 and a 200 day simple moving average of $201.92. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.86 earnings per share. On average, research analysts predict that L3Harris Technologies, Inc. will post 12.76 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

L3Harris Technologies 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.