L3Harris Falls as Defense Names Pull Back and No New Company-Specific Catalyst Emerges

L3Harris Technologies (LHX) is down 4.7% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely explanation is a sector-wide pullback rather than a new company-specific setback. L3Harris opened higher but reversed lower alongside other major defense contractors, while investors also continued to digest a more hawkish Federal Reserve backdrop and recent easing in Middle East tensions that had previously supported defense shares.

Details:

L3Harris shares fell to about $298 in morning trading on June 18 after opening above $315, showing a sharp intraday reversal rather than a steady selloff.

The weakness was broad across the defense group, with Lockheed Martin down about 3.8%, Northrop Grumman down about 4.7%, and RTX down about 2.6% at roughly the same time.

L3Harris’s latest reported quarter was fundamentally solid, with first-quarter orders of $7.8 billion, a 1.4x book-to-bill ratio, record backlog of $40.7 billion, 12% revenue growth, and a small increase to 2026 EPS guidance.

No new negative company press release or major SEC filing was evident today, so this could be because traders are taking profits in a stock and sector that had already rallied strongly on geopolitical and defense-spending themes earlier this year.

Sources:

L3Harris Investor Relations, Associated Press, SEC

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$LHX Insider Trading Activity

$LHX insiders have traded $LHX stock on the open market 6 times in the past 6 months. Of those trades, 0 have been purchases and 6 have been sales.

Here’s a breakdown of recent trading of $LHX stock by insiders over the last 6 months:

SAMIR MEHTA (Pres., Space & Mission Sys.) has made 0 purchases and 2 sales selling 10,368 shares for an estimated $3,687,162.
JON RAMBEAU (Pres., Coms. & Spec. Dom.) sold 5,528 shares for an estimated $2,047,128
MELANIE RAKITA (Vice President & CHRO) has made 0 purchases and 3 sales selling 5,309 shares for an estimated $1,766,859.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$LHX Hedge Fund Activity

We have seen 782 institutional investors add shares of $LHX stock to their portfolio, and 772 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CAPITAL RESEARCH GLOBAL INVESTORS removed 1,499,577 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $515,914,471
BANK OF NEW YORK MELLON CORP removed 895,426 shares (-23.1%) from their portfolio in Q1 2026, for an estimated $308,062,361
PRICE T ROWE ASSOCIATES INC /MD/ removed 744,290 shares (-16.6%) from their portfolio in Q1 2026, for an estimated $256,065,531
AGF MANAGEMENT LTD removed 691,419 shares (-44.7%) from their portfolio in Q1 2026, for an estimated $237,875,792
WELLINGTON MANAGEMENT GROUP LLP added 689,840 shares (+18.6%) to their portfolio in Q1 2026, for an estimated $237,332,553
CASTLE HOOK PARTNERS LP added 674,121 shares (+inf%) to their portfolio in Q1 2026, for an estimated $231,924,588
CAPITAL WORLD INVESTORS removed 633,811 shares (-5.4%) from their portfolio in Q1 2026, for an estimated $218,056,336

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$LHX Government Contracts

We have seen $4,716,140,267 of award payments to $LHX over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

THE PURPOSE OF THIS DELIVERY ORDER AWARD IS TO ADD FUNDING FOR FTI TELECOMMUNICATIONS SERVICES.: $962,145,984
IGF::OT::IGF RS-25 PRODUCTION RESTART TO BE UNDERTAKEN BY THE CONTRACTOR IN SUPPORT OF PROVIDING SIX RS-25...: $307,642,656
HIGH PURITY DEPLETED URANIUM (HPDU) PRODUCTION SERVICES: $104,800,000
DAFIS UDO RECONSTRUCT W/O ADVANCE: $101,001,508
DAFIS UDO RECONSTRUCT W/O ADVANCE: $91,693,533

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$LHX Congressional Stock Trading

Members of Congress have traded $LHX stock 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $LHX stock by members of Congress over the last 6 months:

REPRESENTATIVE RICHARD MCCORMICK has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 03/19.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$LHX Analyst Ratings

Wall Street analysts have issued reports on $LHX in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Citigroup issued a "Buy" rating on 01/13/2026

To track analyst ratings and price targets for $LHX, check out Quiver Quantitative's $LHX forecast page.

$LHX Price Targets

Multiple analysts have issued price targets for $LHX recently. We have seen 6 analysts offer price targets for $LHX in the last 6 months, with a median target of $392.5.

Here are some recent targets:

Douglas Harned from Bernstein set a target price of $405.0 on 05/04/2026
Myles Walton from UBS set a target price of $330.0 on 05/01/2026
Seth Seifman from JP Morgan set a target price of $395.0 on 02/05/2026
John Godyn from Citigroup set a target price of $418.0 on 02/05/2026
Kristine Liwag from Morgan Stanley set a target price of $390.0 on 02/02/2026
Ken Herbert from RBC Capital set a target price of $365.0 on 01/30/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.