Livforsakringsbolaget Skandia Omsesidigt Has $70,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 90.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 332 shares of the company’s stock after purchasing an additional 158 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in L3Harris Technologies were worth $70,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in L3Harris Technologies by 4.1% during the first quarter. State Street Corp now owns 8,691,190 shares of the company’s stock worth $1,705,558,000 after purchasing an additional 339,806 shares during the period. Geode Capital Management LLC lifted its stake in L3Harris Technologies by 1.0% during the first quarter. Geode Capital Management LLC now owns 3,556,352 shares of the company’s stock worth $696,145,000 after purchasing an additional 34,726 shares during the period. Morgan Stanley lifted its stake in L3Harris Technologies by 1.9% during the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock worth $436,684,000 after purchasing an additional 47,691 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in L3Harris Technologies by 4.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock worth $430,049,000 after purchasing an additional 82,423 shares during the period. Finally, Norges Bank bought a new position in L3Harris Technologies during the fourth quarter worth about $342,413,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $205.45 on Friday. The company has a fifty day moving average price of $210.30 and a two-hundred day moving average price of $199.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The firm has a market capitalization of $39.06 billion, a PE ratio of 31.90, a P/E/G ratio of 1.88 and a beta of 0.65.

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

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.26%. L3Harris Technologies’s dividend payout ratio (DPR) is 72.05%.

Insider Activity

In other news, insider Edward J. Zoiss sold 3,707 shares of the business’s 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 owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s 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 directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 in the last quarter. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of a number of analyst reports. UBS Group raised their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Citigroup lifted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Royal Bank of Canada lifted their target price on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Finally, StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $229.00.

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.