Livforsakringsbolaget Skandia Omsesidigt Buys 768 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 231.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100 shares of the company’s stock after purchasing an additional 768 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in L3Harris Technologies were worth $262,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in LHX. RFG Advisory LLC grew its stake in L3Harris Technologies by 3.1% in the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after acquiring an additional 43 shares during the period. Optas LLC lifted its stake in shares of L3Harris Technologies by 3.3% in the second quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after buying an additional 44 shares in the last quarter. Founders Financial Securities LLC grew its holdings in shares of L3Harris Technologies by 2.8% during the second quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock valued at $398,000 after buying an additional 48 shares during the last quarter. Whitener Capital Management Inc. increased its position in shares of L3Harris Technologies by 3.0% during the second quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock worth $385,000 after acquiring an additional 50 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. raised its holdings in shares of L3Harris Technologies by 0.6% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock worth $1,996,000 after acquiring an additional 55 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Finally, Citigroup increased their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.64.

L3Harris Technologies Trading Up 0.9 %

Shares of L3Harris Technologies stock opened at $248.23 on Tuesday. The company’s 50-day moving average price is $233.54 and its 200-day moving average price is $224.99. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a 12-month low of $169.55 and a 12-month high of $248.45. The company has a market cap of $47.08 billion, a price-to-earnings ratio of 40.30, a PEG ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the previous year, the firm earned $2.97 earnings per share. L3Harris Technologies’s revenue was up 12.9% on a year-over-year basis. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $1.16 per share. The ex-dividend date was Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by insiders.

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.