L3Harris Technologies Inc $LHX Shares Sold by National Pension Service

Key Points

• National Pension Service cut its stake in L3Harris Technologies by 3.3% in the fourth quarter, selling 10,677 shares and leaving it with 315,521 shares worth about $92.6 million.
• Insider selling continued, with executives Jon Rambeau and Melanie Rakita both selling shares; insiders sold 13,987 shares worth roughly $5.0 million in the last quarter.
• L3Harris reported better-than-expected quarterly results, posting EPS of $2.72 on revenue of $5.74 billion, and also declared a quarterly dividend of $1.25 per share payable June 26.

National Pension Service lowered its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,521 shares of the company's stock after selling 10,677 shares during the period. National Pension Service owned about 0.17% of L3Harris Technologies worth $92,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Burns J W & Co. Inc. NY increased its holdings in shares of L3Harris Technologies by 3.1% in the 4th quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company's stock valued at $290,000 after acquiring an additional 30 shares during the last quarter. American National Bank & Trust increased its holdings in shares of L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after acquiring an additional 30 shares during the last quarter. CYBER HORNET ETFs LLC increased its holdings in shares of L3Harris Technologies by 5.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company's stock valued at $161,000 after acquiring an additional 30 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its holdings in shares of L3Harris Technologies by 3.7% in the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company's stock valued at $253,000 after acquiring an additional 31 shares during the last quarter. Finally, Rainier Family Wealth Inc. increased its holdings in shares of L3Harris Technologies by 4.8% in the 4th quarter. Rainier Family Wealth Inc. now owns 700 shares of the company's stock valued at $205,000 after acquiring an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 5,528 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,660 shares of the company's stock, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Melanie Rakita sold 2,180 shares of the 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,987 shares of company stock worth $5,049,149 in the last quarter. 0.68% of the stock is owned by insiders.

L3Harris Technologies Trading Up 0.1%

NYSE:LHX opened at $314.98 on Friday. The stock's 50 day moving average price is $331.41 and its 200 day moving average price is $325.91. The company has a market capitalization of $58.68 billion, a PE ratio of 34.20, a P/E/G ratio of 1.59 and a beta of 0.51. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a 52-week low of $237.56 and a 52-week high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.19. The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, research analysts anticipate that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, June 5th. L3Harris Technologies's dividend payout ratio (DPR) is currently 54.29%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wolfe Research reiterated an "outperform" rating on shares of L3Harris Technologies in a report on Friday, January 30th. Citigroup increased their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the company a "buy" rating in a report on Thursday, February 5th. Royal Bank Of Canada increased their price objective on L3Harris Technologies from $360.00 to $365.00 and gave the company a "sector perform" rating in a report on Friday, January 30th. Weiss Ratings upgraded L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $354.75.

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.

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