National Wealth Management Group LLC Purchases New Position in L3Harris Technologies Inc $LHX

National Wealth Management Group LLC acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the third quarter, HoldingsChannel.com reports. The firm acquired 3,569 shares of the company’s stock, valued at approximately $1,090,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in L3Harris Technologies by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock valued at $5,811,973,000 after purchasing an additional 121,619 shares during the last quarter. State Street Corp grew its position in L3Harris Technologies by 1.2% during the 2nd quarter. State Street Corp now owns 8,874,482 shares of the company’s stock worth $2,226,075,000 after acquiring an additional 105,402 shares during the last quarter. Geode Capital Management LLC increased its holdings in L3Harris Technologies by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock valued at $1,236,410,000 after purchasing an additional 38,820 shares in the last quarter. Bank of New York Mellon Corp raised its position in L3Harris Technologies by 52.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the last quarter. Finally, Boston Partners boosted its stake in L3Harris Technologies by 72.1% in the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after purchasing an additional 838,546 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the sale, the chief executive officer owned 144,426 shares of the company’s stock, valued at $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Wall Street Zen lowered shares of L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 11th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, January 12th. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $315.73.

L3Harris Technologies Stock Down 0.3%

Shares of NYSE LHX opened at $354.66 on Monday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $361.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. The stock has a market cap of $66.34 billion, a P/E ratio of 38.09, a P/E/G ratio of 2.22 and a beta of 0.66. The firm has a 50 day moving average price of $301.06 and a 200 day moving average price of $288.48.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the business earned $3.34 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $1.25 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio is currently 51.56%.

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.