Cibc World Market Inc. Reduces Stock Holdings in L3Harris Technologies Inc $LHX

Cibc World Market Inc. lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 7.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 33,937 shares of the company’s stock after selling 2,899 shares during the quarter. Cibc World Market Inc.’s holdings in L3Harris Technologies were worth $9,862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LHX. Cedar Mountain Advisors LLC raised its stake in shares of L3Harris Technologies by 1,233.3% in the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock valued at $28,000 after acquiring an additional 74 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in shares of L3Harris Technologies during the 4th quarter worth about $25,000. Tower View Wealth Management LLC bought a new position in L3Harris Technologies during the 1st quarter valued at about $29,000. Fideuram Asset Management Ireland dac bought a new position in L3Harris Technologies during the 4th quarter valued at about $25,000. Finally, Motiv8 Investments LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth about $25,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LHX shares. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. BNP Paribas Exane decreased their price target on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Susquehanna dropped their price objective on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a report on Friday, July 31st. Finally, UBS Group cut their price objective on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $365.00.

L3Harris Technologies Stock Down 1.5%

Shares of NYSE LHX opened at $262.78 on Tuesday. L3Harris Technologies Inc has a 52-week low of $261.55 and a 52-week high of $379.23. The firm has a market capitalization of $48.93 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.16 and a beta of 0.51. The stock has a 50 day moving average price of $288.82 and a 200 day moving average price of $319.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. The business had revenue of $5.88 billion during 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 was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

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.