CIBC Asset Management Inc Has $19.44 Million Stake in L3Harris Technologies Inc $LHX

CIBC Asset Management Inc grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,652 shares of the company’s stock after acquiring an additional 1,664 shares during the period. CIBC Asset Management Inc’s holdings in L3Harris Technologies were worth $19,440,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Kiker Wealth Management LLC grew its stake in L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 63 shares during the period. Harbor Asset Planning Inc. bought a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $32,000. Independence Bank of Kentucky boosted its holdings in shares of L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of L3Harris Technologies during the 2nd quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at $34,000. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at $43,479,447.30. The trade was a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Down 0.3%

LHX opened at $354.66 on Monday. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $361.59. The firm has a market capitalization of $66.34 billion, a PE ratio of 38.09, a P/E/G ratio of 2.22 and a beta of 0.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. The company’s 50-day moving average is $301.06 and its 200 day moving average is $288.48.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is currently 51.56%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Wall Street Zen lowered shares of L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, January 12th. JPMorgan Chase & Co. boosted their target price on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, TD Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $315.73.

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.