L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,960 shares of the company's stock after acquiring 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 reporting period.

Other hedge funds have also modified their holdings of the company. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $27,000. Roxbury Financial LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $30,000. Union Bancaire Privee UBP SA acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $33,000. New Millennium Group LLC lifted its holdings in shares of L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company's stock worth $39,000 after purchasing an additional 163 shares during the period. Finally, Trust Co. of Vermont lifted its holdings in shares of L3Harris Technologies by 78.9% during the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company's stock worth $41,000 after purchasing an additional 86 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LHX. Morgan Stanley decreased their price target on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Bank of America decreased their price target on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Susquehanna reduced their target price on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Wells Fargo & Company reduced their target price on L3Harris Technologies from $269.00 to $268.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $261.40.

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Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company's stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,098 shares of company stock worth $1,760,588 in the last 90 days. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded down $1.74 during midday trading on Friday, reaching $208.15. 1,931,912 shares of the company were exchanged, compared to its average volume of 921,511. The company has a market capitalization of $39.07 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 2.42 and a beta of 0.74. The firm's 50-day simple moving average is $209.80 and its 200-day simple moving average is $226.26. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $1.20 dividend. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.31%. L3Harris Technologies's payout ratio is 60.99%.

L3Harris Technologies Company 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.