CI Investments Inc. Boosts Holdings in L3Harris Technologies Inc $LHX

CI Investments Inc. lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 147.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,973 shares of the company’s stock after buying an additional 17,855 shares during the period. CI Investments Inc.’s holdings in L3Harris Technologies were worth $10,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Artisan Partners Limited Partnership raised its position in L3Harris Technologies by 174.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock valued at $557,933,000 after purchasing an additional 1,207,334 shares during the period. Two Sigma Investments LP raised its holdings in L3Harris Technologies by 560.7% in the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock valued at $187,609,000 after buying an additional 521,312 shares during the period. Boston Partners lifted its position in L3Harris Technologies by 27.6% in the fourth quarter. Boston Partners now owns 2,401,871 shares of the company’s stock valued at $709,396,000 after buying an additional 519,226 shares during the last quarter. M&T Bank Corp increased its position in shares of L3Harris Technologies by 3,127.8% during the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock valued at $119,994,000 after acquiring an additional 396,077 shares during the last quarter. Finally, Diamant Asset Management Inc. raised its stake in shares of L3Harris Technologies by 34,415.0% in the 1st quarter. Diamant Asset Management Inc. now owns 357,230 shares of the company’s stock valued at $123,298,000 after acquiring an additional 356,195 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LHX. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Sanford C. Bernstein dropped their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. UBS Group reduced their price target on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Finally, Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $354.75.

L3Harris Technologies Stock Up 2.6%

Shares of L3Harris Technologies stock opened at $285.03 on Thursday. L3Harris Technologies Inc has a one year low of $262.98 and a one year high of $379.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. The firm has a fifty day moving average of $299.58 and a two-hundred day moving average of $328.82. The company has a market cap of $53.10 billion, a P/E ratio of 30.95, a PEG ratio of 1.41 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, analysts forecast that L3Harris Technologies Inc will post 11.54 earnings per share for the current year.

Insider Transactions at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the transaction, the vice president directly owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This represents a 34.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

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.