Swiss National Bank Sells 17,500 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Swiss National Bank reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 591,429 shares of the company’s stock after selling 17,500 shares during the period. Swiss National Bank’s holdings in L3Harris Technologies were worth $124,567,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mondrian Investment Partners LTD grew its position in shares of L3Harris Technologies by 32,907.5% in the 3rd quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock worth $66,208,000 after buying an additional 379,094 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of L3Harris Technologies by 53.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock valued at $179,709,000 after buying an additional 296,654 shares during the period. Diamond Hill Capital Management Inc. boosted its position in L3Harris Technologies by 22.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock valued at $252,481,000 after acquiring an additional 266,468 shares in the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of L3Harris Technologies in the 3rd quarter valued at approximately $35,207,000. Finally, Invesco Ltd. lifted its position in L3Harris Technologies by 15.3% during the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock valued at $254,187,000 after buying an additional 193,690 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Activity

In related news, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Swanson acquired 1,250 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost 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 disclosure for this purchase can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 in the last 90 days. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $212.24 on Friday. The firm has a market capitalization of $40.26 billion, a P/E ratio of 34.45, a PEG ratio of 1.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The business has a fifty day moving average of $210.22 and a 200 day moving average of $202.31.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.86 EPS. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.87 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders 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 dividend yield of 2.19%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LHX shares. Barclays upped their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Royal Bank of Canada increased their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Raymond James lifted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $231.33.

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.