SVB Wealth LLC Cuts Stake in L3Harris Technologies Inc $LHX

Key Points

• SVB Wealth LLC reduced its L3Harris stake by 17.6% in the fourth quarter, selling 5,407 shares and ending with 25,368 shares valued at about $7.45 million.
• Insider selling has been notable, with VP Melanie Rakita and insider Samir Mehta both cutting their holdings; insiders sold 16,365 shares worth about $5.86 million last quarter.
• L3Harris reported solid quarterly results, beating EPS and revenue estimates, while also declaring a $1.25 quarterly dividend and maintaining a forward EPS guidance range of 11.40 to 11.60 for FY 2026.

SVB Wealth LLC decreased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 17.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 25,368 shares of the company's stock after selling 5,407 shares during the period. SVB Wealth LLC's holdings in L3Harris Technologies were worth $7,447,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Caitlin John LLC purchased a new stake in shares of L3Harris Technologies during the third quarter valued at $28,000. American National Bank & Trust grew its holdings in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after buying an additional 30 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in L3Harris Technologies in the third quarter valued at approximately $29,000. Triumph Capital Management purchased a new stake in L3Harris Technologies in the third quarter valued at approximately $31,000. Finally, GGM Financials LLC purchased a new stake in L3Harris Technologies in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,378 shares of the firm's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $341.45, for a total value of $811,968.10. Following the transaction, the vice president directly owned 4,882 shares of the company's stock, valued at $1,666,958.90. This trade represents a 32.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Samir Mehta sold 5,528 shares of L3Harris Technologies 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 sale, the insider directly owned 7,756 shares in the company, valued at approximately $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,365 shares of company stock valued at $5,861,117 in the last quarter. 0.68% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Up 0.1%

Shares of NYSE LHX opened at $300.08 on Monday. The firm has a market cap of $55.90 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 1.51 and a beta of 0.51. L3Harris Technologies Inc has a 52-week low of $214.10 and a 52-week high of $379.23. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The business's 50 day moving average is $349.03 and its two-hundred day moving average is $324.06.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter last year, the company posted $2.41 earnings per share. The business's revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Research analysts predict that L3Harris Technologies Inc will post 11.56 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have commented on LHX. Citigroup upped their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Sanford C. Bernstein decreased their target price on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research report on Monday, May 4th. UBS Group decreased their target price on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Finally, Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average price target 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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