L3Harris Technologies (NYSE:LHX) Stock Sold Off Rep. Richard McCormick

Key Points

• Rep. Richard McCormick sold $1,001–$15,000 of L3Harris Technologies shares on July 30 from his Growth Partners Roth IRA, alongside sales of several other blue-chip stocks.
• LHX shares were down 4.7%, opening at $278.05, despite the company beating quarterly earnings and revenue estimates. L3Harris reported $3.13 in EPS, $5.88 billion in revenue, and 8.4% year-over-year revenue growth.
• The company declared a quarterly dividend of $1.25, equal to a $5.00 annualized payout and a 1.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $365, while investors are also assessing a recent CEO transition and governance concerns.

Representative Richard McCormick (Republican-Georgia) recently sold shares of L3Harris Technologies Inc NYSE: LHX. In a filing disclosed on August 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in L3Harris Technologies stock on July 30th. The trade occurred in the Representative's "GROWTH PARTNERS ROTH IRA" account.

Representative Richard McCormick also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Medtronic NYSE: MDT on 7/30/2026.
• Sold $1,001 - $15,000 in shares of NextEra Energy NYSE: NEE on 7/30/2026.
• Sold $1,001 - $15,000 in shares of PepsiCo NASDAQ: PEP on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Abbott Laboratories NYSE: ABT on 7/30/2026.
• Sold $1,001 - $15,000 in shares of McDonald's NYSE: MCD on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Johnson & Johnson NYSE: JNJ on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Intercontinental Exchange NYSE: ICE on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Illinois Tool Works NYSE: ITW on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Home Depot NYSE: HD on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Emerson Electric NYSE: EMR on 7/30/2026.

L3Harris Technologies Stock Down 4.7%

Shares of LHX stock opened at $278.05 on Tuesday. L3Harris Technologies Inc has a one year low of $262.68 and a one year high of $379.23. The stock has a market cap of $51.78 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The stock has a fifty day moving average price of $292.38 and a 200 day moving average price of $322.68.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The business had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the business earned $2.78 EPS. The firm's revenue was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Analysts predict that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. L3Harris Technologies's dividend payout ratio is presently 50.51%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of L3Harris Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock valued at $6,872,710,000 after purchasing an additional 190,955 shares during the last quarter. BlackRock Inc. acquired a new position in L3Harris Technologies in the second quarter valued at approximately $5,525,806,000. Capital World Investors lifted its holdings in L3Harris Technologies by 2.9% in the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company's stock valued at $3,418,747,000 after buying an additional 329,910 shares during the period. State Street Corp boosted its stake in L3Harris Technologies by 1.6% in the fourth quarter. State Street Corp now owns 8,919,368 shares of the company's stock valued at $2,618,459,000 after acquiring an additional 141,442 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in L3Harris Technologies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company's stock worth $1,505,444,000 after acquiring an additional 106,430 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Key Headlines Impacting L3Harris Technologies

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: L3Harris appointed insider Sam Mehta as president and chief executive officer effective immediately. Mehta’s familiarity with the business could help provide continuity and limit disruption while the company manages the transition. L3Harris names insider Sam Mehta CEO as Christopher Kubasik steps down
• Positive Sentiment: A new Rhode Island facility is expanding L3Harris’ undersea-defense capabilities, including advanced training systems for U.S. and allied fleets. The investment may support long-term growth in an area benefiting from increased defense demand. Can L3Harris' New Rhode Island Facility Strengthen Undersea Growth?
• Neutral Sentiment: The leadership transition is effective immediately, and additional details about the conduct violation were not disclosed. Investors will likely watch for information on Mehta’s strategic priorities, the board’s governance process and any effect on customer or government relationships. Defense contractor L3Harris ousts CEO Chris Kubasik over unspecified conduct
• Negative Sentiment: Kubasik’s departure is particularly sensitive because he previously left Lockheed Martin after acknowledging an improper relationship with a subordinate. The repeat conduct-related controversy may heighten reputational and governance concerns surrounding L3Harris. L3Harris ousts CEO Christopher Kubasik after probe finds he violated code of conduct

Analyst Ratings Changes

LHX has been the topic of a number of recent research reports. Weiss Ratings downgraded L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. UBS Group lowered their price target on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. BNP Paribas Exane cut their price objective on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Susquehanna lowered their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a report on Friday, July 31st. Finally, Sanford C. Bernstein cut their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and an average price target of $365.00.

About Representative McCormick

Rich McCormick (Republican Party) is a member of the U.S. House, representing Georgia's 7th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. McCormick (Republican Party) is running for re-election to the U.S. House to represent Georgia's 7th Congressional District. He declared candidacy for the 2026 election. Rich McCormick lives in Suwanee, Georgia. McCormick served in the U.S. Marine Corps and the U.S. Navy. He earned an M.B.A. from National University and an M.D. from Morehouse School of Medicine. McCormick's career experience includes working as an emergency medicine physician with Gwinnett Medical Center and Northside Hospital, a Marine officer instructor with Georgia Tech and Morehouse College, and a pilot.

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.

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.

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