WealthShield Partners LLC Sells 6,139 Shares of L3Harris Technologies Inc $LHX

Key Points

• WealthShield Partners LLC cut its L3Harris stake by 45.5% in the first quarter, selling 6,139 shares and leaving it with 7,359 shares worth about $2.54 million.
• L3Harris reported stronger-than-expected quarterly results, with EPS of $2.72 and revenue of $5.74 billion, both ahead of analyst estimates. Revenue rose 11.9% year over year.
• The company continues to return cash to shareholders, paying a quarterly dividend of $1.25 per share, or $5.00 annually, for a yield of about 1.7%.

WealthShield Partners LLC reduced its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 45.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,359 shares of the company's stock after selling 6,139 shares during the quarter. WealthShield Partners LLC's holdings in L3Harris Technologies were worth $2,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of LHX. Cedar Mountain Advisors LLC grew its stake in L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock valued at $28,000 after acquiring an additional 74 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in L3Harris Technologies in the 4th quarter worth $25,000. Tower View Wealth Management LLC purchased a new stake in L3Harris Technologies in the 1st quarter worth $29,000. Fideuram Asset Management Ireland dac bought a new position in shares of L3Harris Technologies during the 4th quarter valued at about $25,000. Finally, Motiv8 Investments LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at about $25,000. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded up $1.04 during mid-day trading on Friday, hitting $290.91. 626,453 shares of the company's stock traded hands, compared to its average volume of 1,501,537. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a 1 year low of $257.35 and a 1 year high of $379.23. The company's 50-day moving average is $302.97 and its two-hundred day moving average is $329.25. The company has a market capitalization of $54.19 billion, a P/E ratio of 31.59, a PEG ratio of 1.47 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter last year, the business posted $2.41 earnings per share. The firm'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. On average, equities analysts anticipate that L3Harris Technologies Inc will post 11.53 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a $1.25 dividend. The ex-dividend date was 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 54.29%.

Wall Street Analyst Weigh In

LHX has been the topic of several research reports. UBS Group reduced their target price on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a report on Friday, May 1st. Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Sanford C. Bernstein lowered 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 lowered shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Two equities research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $354.75.

Insider Activity at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the transaction, the vice president owned 4,192 shares of the company's stock, valued at approximately $1,301,406.40. The trade was a 34.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company's stock.

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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