Cibc World Market Inc. Has $10.65 Million Stake in L3Harris Technologies Inc $LHX

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in L3Harris Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock worth $6,872,710,000 after acquiring an additional 190,955 shares during the last quarter. Geode Capital Management LLC lifted its position in L3Harris Technologies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock worth $1,505,444,000 after acquiring an additional 106,430 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in L3Harris Technologies by 6.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company’s stock worth $531,416,000 after acquiring an additional 110,423 shares during the last quarter. Bank of America Corp DE lifted its position in L3Harris Technologies by 3.1% during the 2nd quarter. Bank of America Corp DE now owns 1,728,519 shares of the company’s stock worth $433,582,000 after acquiring an additional 52,776 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in L3Harris Technologies by 23.3% during the 3rd quarter. Capital Research Global Investors now owns 1,657,085 shares of the company’s stock worth $506,090,000 after acquiring an additional 312,846 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

In related news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the transaction, the vice president directly owned 4,192 shares in the company, valued at $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 SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LHX has been the subject of a number of research analyst reports. Weiss Ratings raised shares of L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Sanford C. Bernstein cut their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $354.75.

L3Harris Technologies Stock Performance

NYSE LHX opened at $307.99 on Friday. The firm has a market cap of $57.37 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 1.56 and a beta of 0.50. The company has a 50 day moving average of $326.90 and a 200-day moving average of $326.35. 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.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 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 business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the prior year, the firm earned $2.41 earnings per share. L3Harris Technologies’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 forecast that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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