Yacktman Asset Management LP Decreases Position in L3Harris Technologies Inc $LHX

Key Points

• Yacktman Asset Management trimmed its L3Harris Technologies stake by 2.1% in the fourth quarter, but still held 408,227 shares worth about $119.8 million, making LHX its 25th-largest holding.
• Insider selling picked up recently, with Jon Rambeau and Melanie Rakita both selling shares; insiders sold 16,365 shares total over the last three months.
• L3Harris posted strong quarterly results, beating EPS and revenue estimates, and it also announced a quarterly dividend of $1.25 per share, or $5.00 annualized, for a 1.7% yield.

Yacktman Asset Management LP lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 408,227 shares of the company's stock after selling 8,553 shares during the period. L3Harris Technologies accounts for 1.7% of Yacktman Asset Management LP's investment portfolio, making the stock its 25th biggest holding. Yacktman Asset Management LP owned approximately 0.22% of L3Harris Technologies worth $119,843,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. GRIMES & Co WEALTH MANAGEMENT LLC grew its stake in L3Harris Technologies by 2.8% in the 4th quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 1,308 shares of the company's stock valued at $384,000 after buying an additional 36 shares in the last quarter. International Assets Investment Management LLC grew its stake in L3Harris Technologies by 85.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,695 shares of the company's stock valued at $497,000 after buying an additional 779 shares in the last quarter. Diversify Wealth Management LLC grew its stake in L3Harris Technologies by 9.5% in the 4th quarter. Diversify Wealth Management LLC now owns 1,253 shares of the company's stock valued at $368,000 after buying an additional 109 shares in the last quarter. MGO One Seven LLC grew its stake in L3Harris Technologies by 11.9% in the 4th quarter. MGO One Seven LLC now owns 19,177 shares of the company's stock valued at $5,630,000 after buying an additional 2,041 shares in the last quarter. Finally, Crestwood Advisors Group LLC grew its stake in L3Harris Technologies by 27.8% in the 4th quarter. Crestwood Advisors Group LLC now owns 3,175 shares of the company's stock valued at $932,000 after buying an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Activity

In other news, insider Jon Rambeau sold 5,528 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the transaction, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. The trade was a 41.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Melanie Rakita sold 2,378 shares of the company's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $341.45, for a total transaction of $811,968.10. Following the completion of the transaction, the vice president 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 disclosure for this sale is available in the SEC filing. Insiders sold 16,365 shares of company stock worth $5,861,117 in the last three months. Corporate insiders own 0.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LHX shares. Morgan Stanley lifted their price objective on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an "overweight" rating in a research note on Monday, February 2nd. Argus upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research note on Friday, February 27th. Wolfe Research reiterated an "outperform" rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a "sector perform" rating in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an "overweight" rating in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average target price of $354.75.

L3Harris Technologies Stock Down 0.4%

LHX opened at $300.08 on Friday. The company has a fifty day moving average price of $349.03 and a 200-day moving average price of $324.06. The firm has a market capitalization of $55.90 billion, a P/E ratio of 32.58, a price-to-earnings-growth ratio of 1.52 and a beta of 0.51. 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 one year low of $214.10 and a one year high of $379.23.

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, beating analysts' consensus estimates of $2.53 by $0.19. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities research analysts expect that L3Harris Technologies Inc will post 11.56 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given 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 is Friday, June 5th. L3Harris Technologies's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.