Munich Reinsurance Co Stock Corp in Munich Sells 12,434 Shares of L3Harris Technologies Inc $LHX

Key Points

• Munich Reinsurance reduced its L3Harris Technologies stake by 6.6% in the first quarter, selling 12,434 shares and leaving it with 175,714 shares valued at about $60.6 million.
• L3Harris posted stronger-than-expected quarterly results, with EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion versus $5.42 billion expected. Revenue rose 11.9% year over year, and the company reaffirmed FY 2026 EPS guidance of 11.4 to 11.6.
• The company also declared a quarterly dividend of $1.25 per share, or $5.00 annualized, for a yield of 1.7%. Meanwhile, analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $354.75.

Munich Reinsurance Co Stock Corp in Munich decreased its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 6.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,714 shares of the company's stock after selling 12,434 shares during the period. L3Harris Technologies comprises 1.5% of Munich Reinsurance Co Stock Corp in Munich's portfolio, making the stock its 26th largest holding. Munich Reinsurance Co Stock Corp in Munich owned about 0.09% of L3Harris Technologies worth $60,648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. REAP Financial Group LLC boosted its stake in shares of L3Harris Technologies by 12.9% in the 4th quarter. REAP Financial Group LLC now owns 254 shares of the company's stock worth $74,000 after buying an additional 29 shares during the last quarter. Burns J W & Co. Inc. NY increased its position in L3Harris Technologies by 3.1% during the fourth 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 lifted its holdings in L3Harris Technologies by 44.8% in the fourth 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 period. CYBER HORNET ETFs LLC lifted its holdings in L3Harris Technologies by 5.8% in the fourth 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 period. Finally, Turtle Creek Wealth Advisors LLC boosted its position in L3Harris Technologies by 3.7% in the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company's stock worth $253,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $293.45 on Thursday. The business has a 50-day simple moving average of $304.29 and a two-hundred day simple moving average of $329.51. 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 $256.01 and a 52 week high of $379.23. The stock has a market cap of $54.67 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 1.49 and a beta of 0.51.

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

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.00 annualized dividend and a yield of 1.7%. L3Harris Technologies's payout ratio is currently 54.29%.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the transaction, the vice president directly owned 4,192 shares in the company, valued at $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. UBS Group dropped their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a report on Friday, May 1st. Sanford C. Bernstein cut their target price on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research report on Monday, May 4th. Weiss Ratings cut shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Finally, Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Two 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 stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average 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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