SVB Wealth LLC Sells 6,186 Shares of L3Harris Technologies Inc $LHX

Key Points

• SVB Wealth LLC reduced its L3Harris Technologies stake by 24.4% in the first quarter, selling 6,186 shares and leaving it with 19,182 shares worth about $6.62 million.
• L3Harris reported better-than-expected first-quarter results, with EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion, up 11.9% year over year. The company also reaffirmed FY 2026 guidance of 11.4 to 11.6 EPS.
• The stock fell 3.1% to $285.66, while analysts still broadly view it favorably with a Moderate Buy consensus and a target price of $354.75. The company also announced a quarterly dividend of $1.25 per share, payable June 26.

SVB Wealth LLC trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 24.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,182 shares of the company's stock after selling 6,186 shares during the quarter. SVB Wealth LLC's holdings in L3Harris Technologies were worth $6,621,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Fideuram Asset Management Ireland dac bought a new position in L3Harris Technologies in the 4th quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $25,000. Motiv8 Investments LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter worth about $25,000. Caitlin John LLC purchased a new position in shares of L3Harris Technologies in the 3rd quarter worth about $28,000. Finally, American National Bank & Trust grew its position in 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 period. 84.76% of the stock is currently owned by institutional investors.

Insider Transactions at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction dated 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 owned 4,192 shares of the company's stock, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on LHX. UBS Group lowered their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Argus raised L3Harris Technologies to a "strong-buy" rating in a report on Friday, February 27th. Sanford C. Bernstein decreased their target price on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research report on Monday, May 4th. Finally, Weiss Ratings raised L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 13th. Two research 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 company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $354.75.

L3Harris Technologies Stock Down 3.1%

LHX opened at $285.66 on Tuesday. L3Harris Technologies Inc has a 12 month low of $243.84 and a 12 month high of $379.23. The company has a market cap of $53.22 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 1.49 and a beta of 0.50. 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 company has a 50 day moving average of $316.07 and a 200 day moving average of $328.55.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.19. The business had revenue of $5.74 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, sell-side analysts expect that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors 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 1.8%. The ex-dividend date is Friday, June 5th. L3Harris Technologies's payout ratio is presently 54.29%.

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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