Cibc World Markets Corp Has $6.30 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Cibc World Markets Corp grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 16.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,960 shares of the company’s stock after purchasing an additional 4,194 shares during the period. Cibc World Markets Corp’s holdings in L3Harris Technologies were worth $6,300,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LHX. Fortem Financial Group LLC acquired a new stake in shares of L3Harris Technologies during the 3rd quarter worth $841,000. Czech National Bank grew its stake in L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after buying an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares during the period. Principal Financial Group Inc. raised its position in shares of L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after buying an additional 4,321 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in shares of L3Harris Technologies by 13.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $7,602,000 after acquiring an additional 3,740 shares during the period. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now owns 6,812 shares in the company, valued at $1,455,383.80. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,098 shares of company stock worth $1,760,588. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $212.46 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a 50 day simple moving average of $209.62 and a two-hundred day simple moving average of $226.67. The company has a market capitalization of $39.88 billion, a PE ratio of 27.00, a P/E/G ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.26%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research analyst reports. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Tuesday, November 26th. Truist Financial lowered their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Wells Fargo & Company decreased their target price on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. JPMorgan Chase & Co. dropped their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, UBS Group lifted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

L3Harris Technologies Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.