Arbejdsmarkedets Tillaegspension Sells 11,757 Shares of L3Harris Technologies Inc $LHX

Key Points

• Arbejdsmarkedets Tillaegspension cut its L3Harris Technologies stake by 14% in the first quarter, selling 11,757 shares and leaving it with 72,098 shares worth about $24.9 million.
• L3Harris reported strong quarterly results, with EPS of $2.72 beating estimates and revenue of $5.74 billion topping forecasts; revenue also rose 11.9% year over year.
• The company recently paid a $1.25 quarterly dividend and now offers an annualized dividend of $5.00 per share, for a yield of about 1.7%.

Arbejdsmarkedets Tillaegspension decreased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,098 shares of the company's stock after selling 11,757 shares during the period. Arbejdsmarkedets Tillaegspension's holdings in L3Harris Technologies were worth $24,885,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LHX. Vanguard Group Inc. increased its position in shares of L3Harris Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock valued at $6,872,710,000 after purchasing an additional 190,955 shares during the period. Capital World Investors increased its holdings in L3Harris Technologies by 2.9% in the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company's stock valued at $3,418,747,000 after buying an additional 329,910 shares during the period. State Street Corp increased its holdings in L3Harris Technologies by 1.6% in the 4th quarter. State Street Corp now owns 8,919,368 shares of the company's stock valued at $2,618,459,000 after buying an additional 141,442 shares during the period. Geode Capital Management LLC raised its stake in shares of L3Harris Technologies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company's stock valued at $1,505,444,000 after buying an additional 106,430 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of L3Harris Technologies by 3.9% in the 4th quarter. Morgan Stanley now owns 3,318,020 shares of the company's stock valued at $974,072,000 after buying an additional 124,797 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Insider Activity

In other news, VP Melanie Rakita sold 2,180 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value 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. The trade was a 34.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

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

L3Harris Technologies Stock Down 0.7%

LHX opened at $288.68 on Tuesday. The firm has a market cap of $53.78 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 1.47 and a beta of 0.51. 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's 50-day simple moving average is $302.32 and its 200-day simple moving average is $329.43. L3Harris Technologies Inc has a twelve month low of $257.35 and a twelve month high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.19. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm's quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.53 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a $1.25 dividend. The ex-dividend date was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies's payout ratio is 54.29%.

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.

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