Canada Pension Plan Investment Board Grows Stake in L3Harris Technologies Inc $LHX

Canada Pension Plan Investment Board lifted its stake in L3Harris Technologies Inc (NYSE:LHX) by 42.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 585,375 shares of the company’s stock after acquiring an additional 175,780 shares during the quarter. Canada Pension Plan Investment Board’s holdings in L3Harris Technologies were worth $170,104,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new position in L3Harris Technologies in the 2nd quarter worth approximately $5,525,806,000. Capital World Investors lifted its position in shares of L3Harris Technologies by 2.9% during the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock worth $3,418,747,000 after purchasing an additional 329,910 shares in the last quarter. State Street Corp lifted its position in shares of L3Harris Technologies by 1.6% during the fourth quarter. State Street Corp now owns 8,919,368 shares of the company’s stock worth $2,618,459,000 after purchasing an additional 141,442 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of L3Harris Technologies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock valued at $1,505,444,000 after purchasing an additional 106,430 shares during the period. Finally, Morgan Stanley grew its holdings in L3Harris Technologies by 3.9% during the 4th quarter. Morgan Stanley now owns 3,318,020 shares of the company’s stock valued at $974,072,000 after purchasing an additional 124,797 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $262.79 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $48.93 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 1.14 and a beta of 0.51. L3Harris Technologies Inc has a twelve month low of $258.54 and a twelve month high of $379.23. The business has a 50 day simple moving average of $286.84 and a 200-day simple moving average of $318.81.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The company had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the company earned $2.78 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.9%. L3Harris Technologies’s dividend payout ratio is 50.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein dropped their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Susquehanna cut their price target on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. Finally, UBS Group reduced their price target on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $360.45.

L3Harris Technologies 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.