L3Harris Technologies, Inc. (NYSE:LHX) Holdings Raised by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,041 shares of the company’s stock after acquiring an additional 1,896 shares during the period. Canada Pension Plan Investment Board’s holdings in L3Harris Technologies were worth $26,285,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. RFG Advisory LLC raised its position in L3Harris Technologies by 3.1% during the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after acquiring an additional 43 shares in the last quarter. Optas LLC raised its holdings in shares of L3Harris Technologies by 3.3% during the 2nd quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after purchasing an additional 44 shares in the last quarter. Founders Financial Securities LLC lifted its stake in shares of L3Harris Technologies by 2.8% in the 2nd quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock valued at $398,000 after purchasing an additional 48 shares during the last quarter. Whitener Capital Management Inc. boosted its holdings in L3Harris Technologies by 3.0% in the second quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock worth $385,000 after purchasing an additional 50 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. increased its position in L3Harris Technologies by 0.6% during the second quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock worth $1,996,000 after buying an additional 55 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of analyst reports. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Susquehanna lifted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price objective for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Finally, Barclays upped their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.08.

L3Harris Technologies Stock Up 1.2 %

LHX stock opened at $233.21 on Monday. The business’s 50-day simple moving average is $231.36 and its 200 day simple moving average is $221.87. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The company has a market cap of $44.24 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. L3Harris Technologies’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.97 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares in the company, valued at $11,189,760. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,402 shares of company stock worth $6,861,855. Corporate insiders own 0.82% of the company’s stock.

About L3Harris Technologies

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.