2,891 Shares in L3Harris Technologies Inc $LHX Purchased by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the second quarter, HoldingsChannel.com reports. The fund acquired 2,891 shares of the company’s stock, valued at approximately $840,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LHX. Allstate Corp increased its holdings in L3Harris Technologies by 106.7% during the 4th quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after purchasing an additional 7,219 shares during the last quarter. Swiss National Bank boosted its stake in shares of L3Harris Technologies by 7.1% during the 1st quarter. Swiss National Bank now owns 549,029 shares of the company’s stock valued at $189,497,000 after buying an additional 36,320 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of L3Harris Technologies by 23.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock valued at $64,920,000 after buying an additional 41,414 shares during the last quarter. Atria Investments Inc grew its position in shares of L3Harris Technologies by 77.9% during the fourth quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock worth $4,345,000 after buying an additional 6,482 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of L3Harris Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock worth $6,872,710,000 after buying an additional 190,955 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Sanford C. Bernstein cut their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. BNP Paribas Exane reduced their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, UBS Group cut their price objective on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $365.00.

L3Harris Technologies Trading Up 0.2%

L3Harris Technologies stock opened at $285.82 on Thursday. The firm has a 50 day simple moving average of $295.81 and a 200-day simple moving average of $326.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The stock has a market capitalization of $53.22 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 1.08 and a beta of 0.51. L3Harris Technologies Inc has a 12-month low of $262.68 and a 12-month high of $379.23.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The firm had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the business earned $2.78 earnings per share. L3Harris Technologies’s revenue for the quarter 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 11.87 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies’s dividend payout ratio is currently 50.51%.

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.