SEB Asset Management AB Purchases Shares of 24,361 L3Harris Technologies Inc $LHX

SEB Asset Management AB acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the 1st quarter, Holdings Channel reports. The fund acquired 24,361 shares of the company’s stock, valued at approximately $8,408,000.

Several other large investors have also modified their holdings of LHX. Allstate Corp boosted its position in shares of L3Harris Technologies by 106.7% in the 4th quarter. Allstate Corp now owns 13,985 shares of the company’s stock valued at $4,106,000 after purchasing an additional 7,219 shares during the period. Whalen Wealth Management Inc. acquired a new position in L3Harris Technologies during the fourth quarter worth approximately $907,000. Atria Investments Inc lifted its stake in L3Harris Technologies by 77.9% in the fourth quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock valued at $4,345,000 after buying an additional 6,482 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of L3Harris Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock valued at $6,872,710,000 after acquiring an additional 190,955 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of L3Harris Technologies by 23.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock worth $64,920,000 after acquiring an additional 41,414 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LHX shares. UBS Group cut their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Sanford C. Bernstein reduced their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Finally, Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.75.

Insider Buying and Selling at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the transaction, the vice president owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by company insiders.

L3Harris Technologies Trading Down 1.1%

NYSE LHX opened at $277.60 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $51.71 billion, a P/E ratio of 30.14, a P/E/G ratio of 1.42 and a beta of 0.51. L3Harris Technologies Inc has a 52-week low of $260.22 and a 52-week high of $379.23. The firm has a 50-day moving average price of $299.98 and a 200 day moving average price of $328.88.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the company earned $2.41 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities research analysts expect that L3Harris Technologies Inc will post 11.54 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $1.25 dividend. The ex-dividend date was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. L3Harris Technologies’s payout ratio is 54.29%.

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.