Cibc World Market Inc. Sells 2,304 Shares of L3Harris Technologies Inc $LHX

Cibc World Market Inc. trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,274 shares of the company’s stock after selling 2,304 shares during the quarter. Cibc World Market Inc.’s holdings in L3Harris Technologies were worth $10,649,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. Victory Capital Management Inc. boosted its position in shares of L3Harris Technologies by 1,053.9% during the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after purchasing an additional 1,079,474 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of L3Harris Technologies during the third quarter worth $211,703,000. Two Sigma Investments LP boosted its position in shares of L3Harris Technologies by 560.7% during the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock worth $187,609,000 after purchasing an additional 521,312 shares in the last quarter. M&T Bank Corp boosted its position in shares of L3Harris Technologies by 3,127.8% during the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after purchasing an additional 396,077 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of L3Harris Technologies by 42.0% during the third quarter. Balyasny Asset Management L.P. now owns 1,101,285 shares of the company’s stock worth $336,343,000 after purchasing an additional 325,963 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Activity at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies 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 transaction, the vice president owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This trade represents a 34.21% decrease in their position. 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LHX. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings upgraded shares of L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. UBS Group dropped their price objective 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. Sanford C. Bernstein dropped their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Two research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Stock Down 0.6%

Shares of LHX stock opened at $307.99 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. L3Harris Technologies Inc has a 1 year low of $237.56 and a 1 year high of $379.23. The firm’s fifty day moving average price is $326.90 and its two-hundred day moving average price is $326.35. The firm has a market capitalization of $57.37 billion, a P/E ratio of 33.44, a PEG ratio of 1.56 and a beta of 0.50.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period in the previous year, the business earned $2.41 EPS. The company’s revenue 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. On average, equities analysts predict that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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

L3Harris Technologies Company 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.