Narwhal Capital Management Sells 12,404 Shares of L3Harris Technologies Inc $LHX

Narwhal Capital Management lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 22.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,369 shares of the company’s stock after selling 12,404 shares during the quarter. Narwhal Capital Management’s holdings in L3Harris Technologies were worth $10,879,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LHX. Nuveen LLC bought a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $299,157,000. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of L3Harris Technologies by 946.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock valued at $164,297,000 after acquiring an additional 709,948 shares during the period. Wellington Management Group LLP boosted its position in shares of L3Harris Technologies by 12.2% in the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock valued at $1,074,208,000 after acquiring an additional 557,610 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of L3Harris Technologies by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after acquiring an additional 311,886 shares during the period. Finally, Appaloosa LP bought a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $62,793,000. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 195,138 shares of company stock valued at $53,571,774 in the last three months. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several research reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Royal Bank Of Canada raised their target price on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Susquehanna raised their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Finally, Citigroup raised their target price on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $279.47.

L3Harris Technologies Stock Up 1.8%

Shares of NYSE LHX opened at $306.83 on Thursday. The stock has a market cap of $57.41 billion, a PE ratio of 34.28, a PEG ratio of 2.20 and a beta of 0.76. The business has a fifty day moving average of $280.99 and a two-hundred day moving average of $251.50. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $306.83. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a $1.20 dividend. The ex-dividend date was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is 53.63%.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.