Northwestern Mutual Wealth Management Co. Cuts Position in L3Harris Technologies Inc $LHX

Northwestern Mutual Wealth Management Co. trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.7% during the 2nd quarter, Holdings Channel reports. The fund owned 154,139 shares of the company’s stock after selling 2,668 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in L3Harris Technologies were worth $44,791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fideuram Asset Management Ireland dac bought a new stake in L3Harris Technologies in the fourth quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new position in L3Harris Technologies during the fourth quarter valued at $25,000. Motiv8 Investments LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter worth $25,000. Cedar Mountain Advisors LLC increased its holdings in shares of L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after buying an additional 74 shares during the last quarter. Finally, Abound Financial LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth about $29,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LHX has been the subject of a number of analyst reports. Susquehanna lowered their price target on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a report on Friday, July 31st. Weiss Ratings downgraded L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. UBS Group cut their target price on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane cut 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 report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.00.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $267.03 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average is $289.65 and its two-hundred day moving average is $320.67. L3Harris Technologies Inc has a 52 week low of $262.68 and a 52 week high of $379.23. The company has a market capitalization of $49.72 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 1.16 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the company earned $2.78 earnings per share. 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. As a group, analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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 issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s dividend payout ratio is currently 50.51%.

L3Harris Technologies Profile

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.