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

Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 90.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 332 shares of the company’s stock after acquiring 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 have also recently made changes to their positions in the business. Eagle Bay Advisors LLC purchased a new position in L3Harris Technologies during the second quarter worth about $30,000. Strategic Investment Solutions Inc. IL purchased a new position in L3Harris Technologies during the first quarter worth about $27,000. First Capital Advisors Group LLC. purchased a new position in L3Harris Technologies during the second quarter worth about $29,000. KB Financial Partners LLC boosted its holdings in L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 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 approximately $24,654,658.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $215.35 per share, with a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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 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 quarter. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $205.45 on Friday. The company’s 50 day moving average is $210.30 and its 200-day moving average is $199.84. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market cap of $39.06 billion, a P/E ratio of 31.90, a price-to-earnings-growth ratio of 1.88 and a beta of 0.65.

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

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.26%. L3Harris Technologies’s dividend payout ratio is presently 72.05%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LHX. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Royal Bank of Canada lifted their price objective on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Citigroup lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a research report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and nine have assigned 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 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.