Nicholas Company Inc. Cuts Stake in L3Harris Technologies Inc $LHX

Key Points

• Nicholas Company Inc. reduced its stake in L3Harris Technologies by 5.2% in the fourth quarter, selling 3,385 shares and leaving it with 61,905 shares worth about $18.17 million.
• L3Harris reported strong quarterly results, with EPS of $2.72 beating estimates and revenue of $5.74 billion topping expectations; revenue rose 11.9% year over year.
• The company also announced a quarterly dividend of $1.25 per share, payable June 26, while analysts currently rate the stock a consensus Moderate Buy with a target price of $354.75.

Nicholas Company Inc. trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 5.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 61,905 shares of the company's stock after selling 3,385 shares during the quarter. Nicholas Company Inc.'s holdings in L3Harris Technologies were worth $18,173,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Caitlin John LLC purchased a new stake in L3Harris Technologies during the 3rd quarter valued at about $28,000. American National Bank & Trust grew its position in 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 purchasing an additional 30 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in L3Harris Technologies during the 3rd quarter valued at about $29,000. Triumph Capital Management purchased a new stake in L3Harris Technologies during the 3rd quarter valued at about $31,000. Finally, GGM Financials LLC purchased a new stake in shares of L3Harris Technologies during the 3rd quarter valued at about $32,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 0.1%

LHX opened at $300.08 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. The stock has a market capitalization of $55.90 billion, a price-to-earnings ratio of 32.58, a price-to-earnings-growth ratio of 1.51 and a beta of 0.51. The business has a 50-day moving average of $349.03 and a two-hundred day moving average of $324.06. L3Harris Technologies Inc has a 12 month low of $214.10 and a 12 month high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.53 by $0.19. The company had revenue of $5.74 billion during 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 firm's revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, research analysts expect that L3Harris Technologies Inc will post 11.56 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced 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. The ex-dividend date is 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 presently 54.29%.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 5,528 shares of the business's stock in a transaction dated 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 owned 7,660 shares in the company, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Melanie Rakita sold 2,180 shares of the business's stock in a transaction dated 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 16,365 shares of company stock worth $5,861,117. 0.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent analyst reports. Sanford C. Bernstein dropped their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a report on Monday, May 4th. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Susquehanna reaffirmed a "positive" rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Citigroup raised their price target on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a "buy" rating in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an "overweight" rating in a report on Thursday, February 5th. 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $354.75.

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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