Swiss National Bank Has $112.70 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Swiss National Bank reduced its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 535,929 shares of the company’s stock after selling 26,700 shares during the quarter. Swiss National Bank owned 0.28% of L3Harris Technologies worth $112,695,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in LHX. Sigma Planning Corp grew its holdings in shares of L3Harris Technologies by 1.9% during the third quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock worth $622,000 after purchasing an additional 49 shares during the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of L3Harris Technologies by 132.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 4,715 shares of the company’s stock worth $1,122,000 after purchasing an additional 2,683 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of L3Harris Technologies by 18.0% during the third quarter. Aptus Capital Advisors LLC now owns 2,657 shares of the company’s stock worth $632,000 after purchasing an additional 405 shares during the last quarter. KBC Group NV grew its holdings in shares of L3Harris Technologies by 3.5% during the third quarter. KBC Group NV now owns 17,305 shares of the company’s stock worth $4,116,000 after purchasing an additional 585 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in shares of L3Harris Technologies by 21.7% during the third quarter. Zions Bancorporation N.A. now owns 2,152 shares of the company’s stock worth $512,000 after purchasing an additional 384 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,862 shares of company stock valued at $2,155,054 over the last 90 days. 0.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on LHX. Susquehanna decreased their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Truist Financial decreased their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. Barclays decreased their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Price Performance

Shares of LHX opened at $211.42 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The stock has a market cap of $39.69 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The stock’s 50-day moving average price is $209.26 and its two-hundred day moving average price is $227.04.

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

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

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.