Fidelis Capital Partners LLC Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Fidelis Capital Partners LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, Holdings Channel.com reports. The fund acquired 1,910 shares of the company’s stock, valued at approximately $402,000.

Other institutional investors have also modified their holdings of the company. GDS Wealth Management grew its stake in shares of L3Harris Technologies by 184.5% in the third quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock valued at $15,692,000 after buying an additional 58,441 shares in the last quarter. Sapient Capital LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at $1,198,000. Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies during the 4th quarter worth $46,000. Ceredex Value Advisors LLC grew 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 purchasing an additional 83,319 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in L3Harris Technologies during the 4th quarter worth $1,125,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on LHX. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note 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 for the company in a research note on Tuesday, January 30th. Royal Bank of Canada boosted their target price on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Citigroup boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, UBS Group lifted their price target on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $229.00.

L3Harris Technologies Stock Up 1.7 %

L3Harris Technologies stock opened at $205.45 on Friday. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The company has a market capitalization of $39.06 billion, a P/E ratio of 31.90, a PEG ratio of 1.88 and a beta of 0.65. The stock has a 50-day simple moving average of $210.30 and a 200-day simple moving average of $199.84.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the business earned $3.27 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. Equities research analysts expect that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed 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 2.26%. L3Harris Technologies’s dividend payout ratio is presently 72.05%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 in the last ninety days. Insiders own 0.82% of the company’s stock.

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.