Manning & Napier Advisors LLC Sells 310,117 Shares of L3Harris Technologies Inc $LHX

Key Points

• Manning & Napier Advisors LLC cut its L3Harris stake by 41.1% in the fourth quarter, selling 310,117 shares and leaving it with 444,337 shares worth about $131.3 million.
• L3Harris beat earnings expectations in its latest quarter, reporting EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion, up 11.9% year over year.
• The company also declared a quarterly dividend of $1.25 per share, or $5.00 annualized, for a yield of 1.7%, while analysts currently hold a consensus rating of Moderate Buy.

Manning & Napier Advisors LLC lessened its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 41.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 444,337 shares of the company's stock after selling 310,117 shares during the period. L3Harris Technologies accounts for approximately 1.7% of Manning & Napier Advisors LLC's portfolio, making the stock its 16th largest holding. Manning & Napier Advisors LLC owned approximately 0.24% of L3Harris Technologies worth $131,288,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Caitlin John LLC bought a new position in L3Harris Technologies in the 3rd quarter worth about $28,000. JPL Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the 3rd quarter valued at about $29,000. American National Bank & Trust boosted its position in shares of L3Harris Technologies by 44.8% during 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. Triumph Capital Management purchased a new position in shares of L3Harris Technologies during the third quarter worth about $31,000. Finally, GGM Financials LLC bought a new position in shares of L3Harris Technologies in the third quarter worth approximately $32,000. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

LHX opened at $300.08 on Friday. The stock's 50 day simple moving average is $349.03 and its 200 day simple moving average is $324.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a 1 year low of $214.10 and a 1 year high of $379.23. The firm has a market cap of $55.90 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 1.52 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share 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 return on equity of 10.65% and a net margin of 7.71%.The business's revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, analysts predict that L3Harris Technologies Inc will post 11.56 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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 issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, June 5th. L3Harris Technologies's dividend payout ratio is currently 54.29%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the stock in a transaction dated Monday, March 2nd. The shares were 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 7,756 shares in the company, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. The trade was a 41.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 16,365 shares of company stock valued at $5,861,117 in the last quarter. Company insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LHX. Royal Bank Of Canada raised their target price on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a "sector perform" rating in a research note on Friday, January 30th. Argus raised shares of L3Harris Technologies to a "strong-buy" rating in a research note on Friday, February 27th. Morgan Stanley increased their price target on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, February 2nd. Sanford C. Bernstein dropped their price objective on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a report on Monday. Finally, Wolfe Research reiterated an "outperform" rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $354.75.

About L3Harris Technologies

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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