L3Harris Technologies Inc $LHX Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 28.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 81,929 shares of the company’s stock after purchasing an additional 18,277 shares during the quarter. CIBC Asset Management Inc’s holdings in L3Harris Technologies were worth $24,052,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth about $25,000. Caitlin John LLC acquired a new position in L3Harris Technologies in the third quarter valued at approximately $28,000. JPL Wealth Management LLC acquired a new position in L3Harris Technologies in the third quarter valued at approximately $29,000. American National Bank & Trust increased its stake in L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new stake in L3Harris Technologies during the fourth quarter worth approximately $30,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LHX has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. JPMorgan Chase & Co. increased their target price on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Sanford C. Bernstein cut their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $354.75.

Insider Activity at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the sale, the vice president directly owned 4,192 shares of the company’s stock, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $309.91 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $57.73 billion, a P/E ratio of 33.65, a PEG ratio of 1.53 and a beta of 0.50. The business has a 50 day simple moving average of $327.78 and a 200-day simple moving average of $326.48. L3Harris Technologies Inc has a twelve month low of $237.56 and a twelve month high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the previous year, the company posted $2.41 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities analysts anticipate that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a $1.25 dividend. The ex-dividend date is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies’s payout ratio is currently 54.29%.

About L3Harris Technologies

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.