Connor Clark & Lunn Investment Management Ltd. Buys New Shares in L3Harris Technologies Inc $LHX

Connor Clark & Lunn Investment Management Ltd. acquired a new position in L3Harris Technologies Inc (NYSE:LHX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 8,630 shares of the company’s stock, valued at approximately $2,508,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of L3Harris Technologies during the second quarter valued at $5,525,806,000. Capital World Investors lifted its position in L3Harris Technologies by 2.9% during the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock valued at $3,418,747,000 after purchasing an additional 329,910 shares during the period. State Street Corp boosted its stake in shares of L3Harris Technologies by 1.6% in the 4th quarter. State Street Corp now owns 8,919,368 shares of the company’s stock worth $2,618,459,000 after buying an additional 141,442 shares during the last quarter. Geode Capital Management LLC boosted its position in L3Harris Technologies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock worth $1,505,444,000 after purchasing an additional 106,430 shares during the last quarter. Finally, Morgan Stanley grew its position in L3Harris Technologies by 3.9% during the fourth quarter. Morgan Stanley now owns 3,318,020 shares of the company’s stock valued at $974,072,000 after buying an additional 124,797 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Up 0.5%

L3Harris Technologies stock opened at $263.31 on Friday. The stock has a 50-day moving average price of $285.55 and a 200 day moving average price of $317.80. The company has a market capitalization of $49.03 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 1.14 and a beta of 0.51. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. L3Harris Technologies Inc has a 52 week low of $258.54 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping the consensus estimate of $2.80 by $0.33. The firm had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.L3Harris Technologies’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Sell-side analysts anticipate that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies’s dividend payout ratio is currently 50.51%.

Analysts Set New Price Targets

LHX has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. BNP Paribas Exane decreased their price objective on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Sanford C. Bernstein lowered their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $360.45.

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.