L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Swiss National Bank

Swiss National Bank decreased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 535,929 shares of the company's stock after selling 26,700 shares during the period. Swiss National Bank owned approximately 0.28% of L3Harris Technologies worth $112,695,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies during the 4th quarter valued at about $27,000. Archer Investment Corp grew its stake in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after buying an additional 43 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth approximately $30,000. Union Bancaire Privee UBP SA bought a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $33,000. Finally, New Millennium Group LLC boosted its holdings in L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company's stock valued at $39,000 after acquiring an additional 163 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

NYSE LHX traded up $0.64 on Wednesday, hitting $213.07. The company had a trading volume of 838,975 shares, compared to its average volume of 921,915. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company's fifty day moving average price is $209.62 and its 200-day moving average price is $226.67. The company has a market capitalization of $40.00 billion, a PE ratio of 27.07, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

Remove Ads

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a $1.20 dividend. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies's dividend payout ratio is currently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ross Niebergall sold 1,373 shares of the business's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,098 shares of company stock worth $1,760,588. Corporate insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Truist Financial lowered their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Citigroup lowered their price target on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a report on Monday, February 10th. Finally, Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $261.40.

About L3Harris Technologies

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.