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

Swiss National Bank reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567,629 shares of the company’s stock after selling 23,800 shares during the period. Swiss National Bank owned about 0.30% of L3Harris Technologies worth $120,962,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bfsg LLC bought a new position in shares of L3Harris Technologies in the 1st quarter worth about $25,000. Transcendent Capital Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth about $28,000. Blue Trust Inc. lifted its position in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares during the last quarter. Washington Trust Advisors Inc. lifted its position in shares of L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after buying an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth about $46,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of LHX traded up $2.06 during mid-day trading on Monday, hitting $233.10. The company’s stock had a trading volume of 23,279 shares, compared to its average volume of 983,099. The firm has a 50-day moving average price of $222.64 and a 200 day moving average price of $214.06. The stock has a market capitalization of $44.21 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 1.93 and a beta of 0.72. 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 fifty-two week low of $160.25 and a fifty-two week high of $233.85.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. The business had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $2.86 earnings per share. On average, research analysts predict that L3Harris Technologies, Inc. will post 12.96 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Analysts Set New Price Targets

LHX has been the topic of a number of recent research reports. Royal Bank of Canada raised their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Barclays lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research report on Monday, April 22nd. JPMorgan Chase & Co. lifted their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.80.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the sale, the vice president now owns 17,540 shares of the company’s stock, valued at $3,823,720. The disclosure for this sale can be found here. Insiders have sold a total of 82,898 shares of company stock valued at $18,558,167 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

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.