Rep. Richard McCormick Unloads Shares of L3Harris Technologies Inc (NYSE:LHX)

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 Trading Down 4.7%

L3Harris Technologies stock opened at $278.05 on Tuesday. L3Harris Technologies Inc has a 52-week low of $262.68 and a 52-week high of $379.23. The firm has a market capitalization of $51.78 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.10 and a beta of 0.51. The firm has a 50-day moving average price of $292.38 and a two-hundred day moving average price of $322.68. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The company had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the business posted $2.78 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on LHX. BNP Paribas Exane lowered their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Susquehanna reduced their price objective on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research note on Friday, July 31st. UBS Group reduced their price target on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $365.00.

Key Stories Impacting L3Harris Technologies

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

• Positive Sentiment: L3Harris appointed Sam Mehta as president and chief executive officer, effective immediately. Mehta is an internal successor with aerospace and defense experience, which may provide continuity while limiting the disruption from the transition. Reuters article
• Positive Sentiment: The company is expanding its undersea-defense capabilities with a new Rhode Island facility supporting advanced training systems for U.S. and allied fleets. The investment could strengthen L3Harris’s position in a growing strategic-defense market, although its financial impact is longer term. Zacks article
• Negative Sentiment: Kubasik’s forced departure creates uncertainty over L3Harris’s strategy, customer relationships and major defense-program execution. The negative reaction reflects the unexpected nature of the change and the reputational risk associated with a conduct violation, even though the board said it was not related to financial misconduct. CNBC article
• Negative Sentiment: The episode is particularly sensitive because Kubasik previously left Lockheed Martin after acknowledging an improper relationship with a subordinate. That history may intensify investor concerns about oversight and corporate culture at L3Harris. Fox Business article

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allstate Corp grew its holdings in shares of L3Harris Technologies by 106.7% in the 4th quarter. Allstate Corp now owns 13,985 shares of the company’s stock valued at $4,106,000 after buying an additional 7,219 shares during the period. Swiss National Bank grew its stake in L3Harris Technologies by 7.1% in the first quarter. Swiss National Bank now owns 549,029 shares of the company’s stock valued at $189,497,000 after acquiring an additional 36,320 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of L3Harris Technologies by 23.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock worth $64,920,000 after acquiring an additional 41,414 shares in the last quarter. Atria Investments Inc raised its position in shares of L3Harris Technologies by 77.9% during the fourth quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock worth $4,345,000 after purchasing an additional 6,482 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of L3Harris Technologies by 6.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company’s stock worth $531,416,000 after purchasing an additional 110,423 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.

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.