CIBC Asset Management Inc Buys 1,242 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

CIBC Asset Management Inc lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,046 shares of the company’s stock after buying an additional 1,242 shares during the period. CIBC Asset Management Inc’s holdings in L3Harris Technologies were worth $6,108,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. KCM Investment Advisors LLC grew its holdings in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after purchasing an additional 5,868 shares during the last quarter. Fortem Financial Group LLC purchased a new stake in L3Harris Technologies during the third quarter valued at about $841,000. Czech National Bank grew its stake in shares of L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after buying an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after buying an additional 178,407 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after buying an additional 4,321 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 4,901 shares of company stock valued at $1,059,757 in the last three months. 0.87% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Susquehanna cut their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target 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. Barclays cut their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Citigroup lowered their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

L3Harris Technologies Stock Down 0.5 %

LHX stock opened at $194.80 on Thursday. L3Harris Technologies, Inc. has a fifty-two week low of $194.25 and a fifty-two week high of $265.74. The company has a market capitalization of $36.95 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 2.43 and a beta of 0.76. The business’s 50 day moving average price is $211.28 and its two-hundred day moving average price is $229.48. 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 (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

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.