5,000 L3Harris Technologies Inc $LHX Shares Bought by Canal Insurance CO

Canal Insurance CO increased its stake in L3Harris Technologies Inc (NYSE:LHX) by 20.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,000 shares of the company’s stock after buying an additional 5,000 shares during the period. L3Harris Technologies accounts for 1.6% of Canal Insurance CO’s portfolio, making the stock its 17th largest position. Canal Insurance CO’s holdings in L3Harris Technologies were worth $6,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cedar Mountain Advisors LLC grew its holdings in shares of L3Harris Technologies by 1,233.3% during the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after acquiring an additional 74 shares during the period. Tower View Wealth Management LLC bought a new position in shares of L3Harris Technologies in the 1st quarter worth approximately $29,000. NBH Bank bought a new position in shares of L3Harris Technologies in the 2nd quarter worth approximately $26,000. Elevation Wealth Partners LLC lifted its stake in shares of L3Harris Technologies by 80.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 99 shares of the company’s stock valued at $29,000 after purchasing an additional 44 shares during the period. Finally, Bell Investment Advisors Inc purchased a new position in shares of L3Harris Technologies in the 2nd quarter valued at approximately $33,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LHX shares. Sanford C. Bernstein reduced their price target on L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. Susquehanna lowered their price objective on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research report on Friday, July 31st. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, October 4th. The Goldman Sachs Group dropped their target price on shares of L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Finally, Jefferies Financial Group downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $341.71.

L3Harris Technologies Stock Up 2.0%

Shares of NYSE LHX traded up $4.96 on Tuesday, reaching $248.80. 837,426 shares of the company’s stock traded hands, compared to its average volume of 1,514,798. The business’s 50 day simple moving average is $253.35 and its two-hundred day simple moving average is $289.59. L3Harris Technologies Inc has a 12 month low of $232.34 and a 12 month high of $379.23. The company has a market cap 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 quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46.

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

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, September 4th. L3Harris Technologies’s payout ratio is 50.51%.

About L3Harris Technologies

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.