CIBC Asset Management Inc Has $6.11 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

CIBC Asset Management Inc lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,046 shares of the company’s stock after purchasing 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 filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in L3Harris Technologies by 29.9% during the 3rd 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. International Assets Investment Management LLC lifted its stake in shares of L3Harris Technologies by 23,627.0% in the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after acquiring an additional 169,878 shares during the period. Mizuho Markets Americas LLC boosted its holdings in L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after acquiring an additional 166,262 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in L3Harris Technologies during the 3rd quarter valued at approximately $35,904,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of L3Harris Technologies by 156.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock worth $35,259,000 after purchasing an additional 90,370 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. UBS Group boosted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Bank of America dropped their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Citigroup dropped their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $262.67.

L3Harris Technologies Trading Down 0.5 %

NYSE LHX opened at $194.80 on Thursday. L3Harris Technologies, Inc. has a 12 month low of $194.25 and a 12 month high of $265.74. The business has a fifty day simple moving average of $211.28 and a 200 day simple moving average of $229.48. The firm has a market capitalization of $36.95 billion, a P/E ratio of 24.75, a PEG ratio of 2.43 and a beta of 0.76. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 4,901 shares of company stock valued at $1,059,757 in the last three months. Company insiders own 0.87% of the company’s stock.

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.