Sterling Capital Management LLC Decreases Holdings in L3Harris Technologies Inc $LHX

Key Points

• Sterling Capital Management cut its L3Harris Technologies stake by 39.1% in the first quarter, leaving it with 7,448 shares worth about $2.57 million.
• L3Harris reported better-than-expected quarterly results, posting EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion versus $5.42 billion expected, with revenue up 11.9% year over year.
• The company also paid a quarterly dividend of $1.25 per share, equal to an annualized yield of about 1.7%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $354.75.

Sterling Capital Management LLC reduced its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 39.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,448 shares of the company's stock after selling 4,789 shares during the period. Sterling Capital Management LLC's holdings in L3Harris Technologies were worth $2,571,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LHX. REAP Financial Group LLC increased its position in shares of L3Harris Technologies by 12.9% in the fourth quarter. REAP Financial Group LLC now owns 254 shares of the company's stock valued at $74,000 after buying an additional 29 shares in the last quarter. Burns J W & Co. Inc. NY raised its position in shares of L3Harris Technologies by 3.1% during the 4th quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company's stock worth $290,000 after purchasing an additional 30 shares during the last quarter. American National Bank & Trust lifted 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. CYBER HORNET ETFs LLC lifted its stake in 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 buying an additional 30 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC grew its holdings in L3Harris Technologies by 3.7% during the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company's stock valued at $253,000 after buying an additional 31 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company's stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $291.45 on Monday. The business's fifty day moving average price is $310.84 and its 200 day moving average price is $328.86. L3Harris Technologies Inc has a twelve month low of $245.12 and a twelve month high of $379.23. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $54.29 billion, a P/E ratio of 31.65, a PEG ratio of 1.47 and a beta of 0.50.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.53 by $0.19. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, research analysts anticipate that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given 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 of this dividend was Friday, June 5th. L3Harris Technologies's dividend payout ratio is 54.29%.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of analyst reports. Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. UBS Group reduced their target price 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. Finally, Sanford C. Bernstein decreased their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and a consensus 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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