Skandinaviska Enskilda Banken AB publ Acquires New Shares in L3Harris Technologies Inc $LHX

Skandinaviska Enskilda Banken AB publ acquired a new position in L3Harris Technologies Inc (NYSE:LHX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,836 shares of the company’s stock, valued at approximately $561,000.

A number of other institutional investors have also added to or reduced their stakes in LHX. Brighton Jones LLC lifted its position in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares during the period. Chicago Partners Investment Group LLC bought a new position in L3Harris Technologies in the second quarter worth approximately $239,000. Whittier Trust Co. lifted its holdings in L3Harris Technologies by 6.1% during the second quarter. Whittier Trust Co. now owns 868 shares of the company’s stock worth $218,000 after buying an additional 50 shares during the period. D.A. Davidson & CO. boosted its position in L3Harris Technologies by 11.2% during the 2nd quarter. D.A. Davidson & CO. now owns 8,582 shares of the company’s stock valued at $2,153,000 after acquiring an additional 863 shares in the last quarter. Finally, Strategic Blueprint LLC increased its holdings in shares of L3Harris Technologies by 112.0% in the 2nd quarter. Strategic Blueprint LLC now owns 2,158 shares of the company’s stock valued at $541,000 after acquiring an additional 1,140 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In related news, insider Samir Mehta sold 4,840 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $338.85, for a total value of $1,640,034.00. Following the completion of the transaction, the insider owned 5,916 shares in the company, valued at $2,004,636.60. This trade represents a 45.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LHX. JPMorgan Chase & Co. upped their price objective on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Royal Bank Of Canada increased their target price on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Finally, Morgan Stanley raised their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Stock Performance

LHX opened at $355.84 on Friday. The company has a market cap of $66.46 billion, a P/E ratio of 41.72, a price-to-earnings-growth ratio of 2.57 and a beta of 0.64. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average price is $328.43 and its 200-day moving average price is $299.57. L3Harris Technologies Inc has a 52-week low of $195.72 and a 52-week high of $369.59.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the previous year, the firm earned $3.47 EPS. L3Harris Technologies’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is currently 56.27%.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.