Canal Insurance CO Purchases 5,000 Shares of L3Harris Technologies Inc $LHX

Canal Insurance CO grew its position in L3Harris Technologies Inc (NYSE:LHX) by 20.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 29,000 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. L3Harris Technologies accounts for approximately 1.6% of Canal Insurance CO’s investment portfolio, making the stock its 17th biggest holding. Canal Insurance CO’s holdings in L3Harris Technologies were worth $6,867,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LHX. Meeder Advisory Services Inc. purchased a new position in shares of L3Harris Technologies in the 2nd quarter worth $1,397,000. Swiss National Bank grew its holdings in shares of L3Harris Technologies by 7.1% in the first quarter. Swiss National Bank now owns 549,029 shares of the company’s stock worth $189,497,000 after acquiring an additional 36,320 shares during the period. Community Trust & Investment Co. grew its holdings in shares of L3Harris Technologies by 8.2% in the third quarter. Community Trust & Investment Co. now owns 63,777 shares of the company’s stock worth $15,101,000 after acquiring an additional 4,828 shares during the period. Concurrent Investment Advisors LLC increased its position in L3Harris Technologies by 29.4% during the second quarter. Concurrent Investment Advisors LLC now owns 53,138 shares of the company’s stock valued at $15,441,000 after acquiring an additional 12,059 shares during the last quarter. Finally, Bank of America Corp DE increased its position in L3Harris Technologies by 22.3% during the first quarter. Bank of America Corp DE now owns 1,917,732 shares of the company’s stock valued at $661,905,000 after acquiring an additional 350,313 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of a number of recent research reports. BNP Paribas Exane lowered their target price on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Weiss Ratings downgraded L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 10th. Sanford C. Bernstein reduced their price target on shares of L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating for the company in a research report on Wednesday, October 14th. The Goldman Sachs Group reduced their price target on shares of L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, October 4th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $341.71.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded up $4.96 during trading on Tuesday, reaching $248.80. The company had a trading volume of 837,426 shares, compared to its average volume of 1,514,798. The firm has a market capitalization of $46.33 billion, a price-to-earnings ratio of 25.12, a price-to-earnings-growth ratio of 1.59 and a beta of 0.50. 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 firm’s 50-day simple moving average is $253.35 and its 200 day simple moving average is $289.59. L3Harris Technologies Inc has a 52 week low of $232.34 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%. The business had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the company posted $2.78 earnings per share. L3Harris Technologies’s revenue for the quarter was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.89 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, September 4th. L3Harris Technologies’s payout ratio is presently 50.51%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.