Skandinaviska Enskilda Banken AB publ Acquires New Shares in L3Harris Technologies, Inc. (NYSE:LHX)

Posted by on May 14th, 2023

Skandinaviska Enskilda Banken AB publ bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,193 shares of the company’s stock, valued at approximately $457,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. Lockheed Martin Investment Management Co. lifted its holdings in shares of L3Harris Technologies by 3.7% during the 4th quarter. Lockheed Martin Investment Management Co. now owns 26,190 shares of the company’s stock valued at $5,453,000 after purchasing an additional 930 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in L3Harris Technologies by 70.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 54,806 shares of the company’s stock valued at $11,411,000 after buying an additional 22,653 shares in the last quarter. AlphaStar Capital Management LLC boosted its holdings in shares of L3Harris Technologies by 1.5% in the fourth quarter. AlphaStar Capital Management LLC now owns 5,877 shares of the company’s stock valued at $1,224,000 after buying an additional 87 shares during the period. Aubrey Capital Management Ltd increased its position in shares of L3Harris Technologies by 3.1% during the fourth quarter. Aubrey Capital Management Ltd now owns 3,300 shares of the company’s stock worth $682,000 after acquiring an additional 100 shares in the last quarter. Finally, Dakota Wealth Management raised its holdings in shares of L3Harris Technologies by 14.9% during the fourth quarter. Dakota Wealth Management now owns 22,683 shares of the company’s stock worth $4,723,000 after acquiring an additional 2,938 shares during the period. 82.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LHX has been the subject of a number of research analyst reports. Susquehanna upped their target price on shares of L3Harris Technologies from $265.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, January 30th. Wells Fargo & Company lifted their target price on L3Harris Technologies from $219.00 to $230.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 1st. Morgan Stanley cut their target price on L3Harris Technologies from $278.00 to $264.00 and set an “overweight” rating on the stock in a research note on Monday, January 30th. Robert W. Baird decreased their price target on shares of L3Harris Technologies from $241.00 to $222.00 in a research note on Monday, May 1st. Finally, Credit Suisse Group cut their price objective on shares of L3Harris Technologies from $240.00 to $234.00 in a research report on Monday, May 1st. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Hold” and an average price target of $250.00.

L3Harris Technologies Stock Performance

LHX opened at $186.75 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.45. The stock has a market cap of $35.38 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 5.91 and a beta of 0.70. L3Harris Technologies, Inc. has a 12-month low of $183.21 and a 12-month high of $255.10. The business has a 50 day moving average of $197.23 and a 200-day moving average of $209.03.

L3Harris Technologies (NYSE:LHX – Get Rating) last posted its earnings results on Thursday, April 27th. The company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.01). L3Harris Technologies had a return on equity of 13.03% and a net margin of 5.30%. The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the business posted $3.12 EPS. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 12.32 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Thursday, June 1st. L3Harris Technologies’s payout ratio is 95.20%.

L3Harris Technologies Company Profile

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L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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