L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Forte Capital LLC ADV

Forte Capital LLC ADV grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,942 shares of the company’s stock after buying an additional 104 shares during the quarter. Forte Capital LLC ADV’s holdings in L3Harris Technologies were worth $938,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Koshinski Asset Management Inc. lifted its holdings 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 buying an additional 42 shares during the last quarter. RFG Advisory LLC lifted its stake in L3Harris Technologies by 3.1% during the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after purchasing an additional 43 shares during the last quarter. Blossom Wealth Management boosted its holdings in L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares during the period. Nicholas Hoffman & Company LLC. increased its stake in L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after purchasing an additional 43 shares during the last quarter. Finally, Optas LLC raised its holdings in shares of L3Harris Technologies by 3.3% during the second quarter. Optas LLC now owns 1,381 shares of the company’s stock worth $310,000 after purchasing an additional 44 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 8,964 shares of company stock valued at $2,179,119 in the last ninety days. 0.87% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $256.45 on Thursday. The firm has a market capitalization of $48.64 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 2.06 and a beta of 0.72. The business has a fifty day simple moving average of $239.97 and a 200 day simple moving average of $229.89. L3Harris Technologies, Inc. has a one year low of $179.56 and a one year high of $260.00. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The company 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% compared to the same quarter last year. During the same period last year, the company posted $3.19 earnings per share. Sell-side analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.81%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Analyst Ratings Changes

LHX has been the topic of several research reports. Wells Fargo & Company increased their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Citigroup boosted their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Susquehanna increased their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Bank of America upgraded 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 report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $267.50.

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.