Mondrian Investment Partners LTD Trims Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• Mondrian Investment Partners reduced its L3Harris Technologies stake by 25.3% in the fourth quarter, leaving it with 200,687 shares worth about $58.9 million.
• L3Harris reported better-than-expected quarterly results, posting EPS of $2.72 on revenue of $5.74 billion, both ahead of analyst estimates and up 11.9% year over year.
• The company also announced a quarterly dividend of $1.25 per share, or $5.00 annually, implying a 1.6% yield, while analysts currently rate the stock a consensus Moderate Buy with a $354.75 price target.

Mondrian Investment Partners LTD trimmed its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 25.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,687 shares of the company's stock after selling 67,880 shares during the period. Mondrian Investment Partners LTD owned approximately 0.11% of L3Harris Technologies worth $58,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Caitlin John LLC purchased a new position in L3Harris Technologies in the 3rd quarter valued at approximately $28,000. JPL Wealth Management LLC purchased a new position in L3Harris Technologies in the 3rd quarter valued at approximately $29,000. American National Bank & Trust grew its stake in 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 buying an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $30,000. Finally, Triumph Capital Management purchased a new position in L3Harris Technologies in the 3rd quarter valued at approximately $31,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction on 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 7,660 shares of the company's stock, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction 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. This represents a 34.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 16,365 shares of company stock valued at $5,861,117. Insiders own 0.68% of the company's stock.

L3Harris Technologies Stock Up 1.9%

LHX opened at $312.12 on Friday. The company has a fifty day moving average price of $336.51 and a 200-day moving average price of $325.05. The firm has a market capitalization of $58.15 billion, a P/E ratio of 33.89, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51. 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 one year low of $235.72 and a one year 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 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.19. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities research analysts expect that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders 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 dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies's payout ratio is currently 54.29%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein reduced their price objective on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Argus upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, February 27th. Citigroup boosted their price target on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Finally, Wolfe Research restated an "outperform" rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target 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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