L3Harris Technologies (LHX) stock seems to be facing a volatile situation. Despite declaration of increased dividend, strong Q1 2024 results, and supportive 2024 profitability guidance, it's not all smooth sailing as the company's stock often underperformed compared to competitors. Notably, the investment community reflects a mixed sentiment where numerous institutions are increasing their holdings, whereas others are reducing their positions.
TrinityPoint Wealth LLC,
D.A. Davidson & CO., and
Van ECK Associates Corp reduced their stake while
Cambridge Investment Research Advisors Inc and
CreativeOne Wealth LLC boosted their position. Of concern is the recent sale of 25000 shares by the CEO of L3Harris Technologies, Christopher E. Kubasik, and the news of a proposed 5% workforce reduction. On the brighter side, the company is entering into new agreements, fisnishing the sale of its non-core assets for $200m, and has inked a five-Year contract with
Iridium to protect FAA critical infrastructure. L3Harris Technology are due to pay a US$1.02 dividend and have increased the same to $1.16.
L3harris Technologies LHX News Analytics from Mon, 09 Oct 2023 07:00:00 GMT to Wed, 29 May 2024 20:57:00 GMT -
