First Horizon Corp Sells 1,872 Shares of L3Harris Technologies Inc $LHX

First Horizon Corp lowered its stake in L3Harris Technologies Inc (NYSE:LHX) by 5.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,723 shares of the company’s stock after selling 1,872 shares during the period. First Horizon Corp’s holdings in L3Harris Technologies were worth $11,294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its position in L3Harris Technologies by 2.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 581,188 shares of the company’s stock worth $200,597,000 after buying an additional 13,674 shares during the period. CFS Investment Advisory Services LLC bought a new stake in L3Harris Technologies during the first quarter valued at $211,000. Axxcess Wealth Management LLC boosted its position in shares of L3Harris Technologies by 1.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 8,541 shares of the company’s stock valued at $2,948,000 after purchasing an additional 123 shares in the last quarter. Cvfg LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth approximately $5,000,000. Finally, Nicholas Hoffman & Company LLC. grew its holdings in L3Harris Technologies by 67.5% in the first quarter. Nicholas Hoffman & Company LLC. now owns 1,915 shares of the company’s stock worth $661,000 after purchasing an additional 772 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $289.44 on Friday. L3Harris Technologies Inc has a 1-year low of $256.51 and a 1-year high of $379.23. 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 firm has a market capitalization of $53.92 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 1.48 and a beta of 0.51. The firm’s 50 day simple moving average is $303.58 and its 200 day simple moving average is $329.52.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.53 by $0.19. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, analysts expect that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.00 annualized dividend and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 54.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LHX. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. UBS Group reduced their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings lowered shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Finally, Sanford C. Bernstein decreased their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.75.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the transaction, the vice president directly owned 4,192 shares in the company, valued at $1,301,406.40. This represents a 34.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by insiders.

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.